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- US Dollar Falls to 14-Year Low Against the Yen
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MOST SHARED
- Kuoni CEO Sees Recovery in Travel Sector
- Dubai Struggles to Ease Debt Fears; Investors Rattled
- Gold Retreats from Record High as Dollar Rebounds
- China Unveils Carbon Target Ahead of Copenhagen
- Euro Shares Record Biggest Drop in 7 Months
- Hyundai-Kia Targets Rapid China Growth in 2010
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- Fannie Mae to Tighten Lending Standards: Report
- Chinese Overcapacity is Worsening, EU Chamber Warns
- US Markets Bracing for Selloff On Worries About Dubai's Debt
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Stocks rallied Monday as Bernie Madoff received the maximum sentence and oil topped $71 a barrel.
Saying symbolism is important, a judge sentenced convicted Ponzi swindler Bernard Madoff to 150 years in prison.
>> Tips for Surviving Prison: Bernie Madoff Edition
Oil stocks rose as crude gained more than $1, topping $71 a barrel.
Investors will also be looking to economic data for signs of recovery. On tap this week are reports on manufacturing, pending-home sales and unemployment.
Fast-food giant Wendy's [WEN
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Drug stocks were mostly lower. But Sanofi Aventis [SNY
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] rose after a Financial Times report that the Paris-based pharmaceutical was preparing to make acquisitions to strengthen its position in the industry.
UBS [UBS
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] rose after the Swiss bank said it will pay it will pay between $2.77 billion and $4.62 billion to settle a US tax probe.
But most bank stocks were lower, including Citigroup [C
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].
State Street [STT
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] shares slipped after the bank received a "Wells Notice" from the Securities and Exchange Commission regarding a probe into various investment moves in 2007 and in prior periods. State Street said it is cooperating with the inquiry.
Viacom shares [VIA
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] rose after "Transformers" proved to be a summer blockbuster for the media giant, raking in $201.2 million in the five days since it hit theaters Wednesday. Hasbro [HAS
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], which has the licensing rights to "Transformer" products, saw its shares decline. One analyst projected the movie tie-in products could contribute $550 million to Hasbro's sales this year.
This Week:
MONDAY: Manufacturing reports from Dallas, Chicago Fed branches; Earnings from H&R Block
TUESDAY: Case-Shiller home-price index; leading indicators; Conf. Board consumer confidence; Fed's Bullard, Hoenig and Yellen speak
WEDNESDAY: Weekly mortgage applications; ISM manufacturing index; construction spending; pending-home sales; weekly crude inventories; Fed's Evans speaks
THURSDAY: Weekly jobless claims; May jobs report; factory orders
FRIDAY: All U.S. financial markets closed for the Independence Day holiday
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Data is a real-time snapshot *Data is delayed at least 15 minutes