U.S. oil prices rebounded Monday low-income

With the rebound in oil prices, U.S. stocks close lower Monday. As the two pharmaceutical companies delayed earnings reports, investors became more cautious.

Crude oil futures rose 2.16 dollars to close at 131.04 U.S. dollars a barrel, or 1.7 percent.

Oaktree Capital Management chief investment officer Robert - Pafulike (Robert Pavlik), "said many investors to doubt the overall market. Last week, financial stocks rose 11.4 percent, while energy stocks fell just 11.4 percent. This shows the market In the transfer of funds, rather than a new capital market. "

Bank of America-than-expected earnings reports, to provide the financial stocks gained momentum. Roche also bid 43.7 billion U.S. dollars Genetech acquisition of the remaining shares.

The Dow Jones industrial average was down 29.23 points to close at 11467.34 points, or 0.35 percent. The Dow closed at a time when the rise. Within the 30 constituent stocks in a total of 21 shares fell.

MSD (MRK) fell 6.2 percent, Schering-Plough (SGP) dropped by 11.5 percent. The companies will release earnings reports from the time before the opening pushed back to after the close, the Norwegian researchers found that the distribution of common cholesterol drug treatment for heart disease and no significant effect.

Apple rose 0.7 percent, the company will be released after the close of the third-quarter earnings report. American Express and Texas Instruments also will be closed after the performance.

Bank of America (BAC) rose 3.9 percent, the company's second-quarter profit fell 41 percent, a result better than Wall Street expectations.

Fannie Mae (FNM) rose 5.1 percent, the premises of the United States (FRE) fell 4.7 percent. There are 19 financial services stocks purely short-selling acts have been restricted.

Investors in two large regional banks, Wachovia (WB) and Washington Mutual Bank (WM) on Tuesday reported earnings before also takes a cautious approach, this two stocks were up 1.6 percent and down 7.4 percent.

Pafulike, "said Washington Mutual and Wachovia are not in the list of government restrictions on short selling, a bit strange and I think that the United States Securities and Exchange Commission has made it clear that what the stock market is not important, otherwise why do not protect the whole SGT? »"

The Standard & Poor's 500 index fell 0.68 points to close at 1260.00 points, or 0.05 percent. The Standard & Poor's 10 major plates in the financial sector fell by 1.4 percent and the non-consumer products segment fell to 0.9 percent.

Energy shares rose 3.9 percent, plate of raw materials rose 1.3 percent.

Due to tropical storm moving to the Gulf of Mexico, crude oil futures in the first five trading days up. New York Mercantile Exchange, August crude futures contract rose 2.16 dollars to close at 131.04 U.S. dollars a barrel.

The Nasdaq composite index fell 3.25 points to 2279.53 points, or 0.14 percent.

Trading was relatively light Monday, the New York Stock Exchange volume was 4.36 billion shares traded on the Nasdaq to 1.859 billion shares. New York Stock Exchange to 20 than 11 leading shares fell on the Nasdaq stock market rose to 16 than 12 leading the Nasdaq.

M & A, the Swiss pharmaceutical company Roche Monday bid 44 billion U.S. dollars acquisition it did not have the Genentech (DNA) the remaining 44 percent stake. Genentech rose 14.7 percent.

Yahoo (YHOO) fell 3.5 percent. The company agreed to allow shareholders Icahn hold different views into its board of directors, Icahn recommended by the nine candidates will also have access to two Yahoo board.

June Conference Board leading economic indicators index fell 0.1 percent, which is an economist, said that the U.S. domestic economy has not improved signs.

Asian stock markets rising, Hong Kong's Hang Seng index has been the fourth consecutive trading days up.

European stock markets, the pan-European Dow Jones Stoxx 600 index rose 0.9 percent to 283.07 points.

Major stock indexes mixed last Friday, but the week was up, Wells Fargo, JP Morgan and Citigroup's results were better than expected.