Dell jumped to lead the S&P 500 gainers after the PC maker announced it will offer shareholders a dividend of 32 cent a share per year, or 8 cents a quarter.
Johnson & Johnson advanced after the drugmaker said it expects the $19.7 billion acquisition of Swiss medical device maker Synthes to slightly boost profit this year. In addition, at least three brokerages raised their rating on the company.
Scotts Miracle-Gro tumbled after the lawn care and service company said it would miss its full-year outlook on weak demand during the peak gardening season. In addition, RBC slashed its price target on the firm to $38 from $48.
Zynga rose slightly after Evercore Partners raises its rating on the online gaming company to "equal weight" from "underweight." The upgrade comes a day after Zynga shares hit an all-time low amid worries that the Facebook-gaming fad has passed its peak. Facebook shares reversed their earlier gains to finish slightly lower.
On the economic front, producer prices tumbled 1 percent in Mayas energy costs fell the most since March 2009, according to the Labor Department.
Retail sales fell for a second month, slipping 0.2 percent in May, according to the Commerce Department. Meanwhile, business inventories rose 0.4 percent to a record $1.58 trillion in April, pointing to continued careful management of stocks.
Oil prices hit their lowest level since last October,even after the EIA's inventory data showed crude supplies declined last week. Investors will be waiting for headlines from the OPEC meeting later this week.
Treasury prices extended their gainsafter the government auctioned $21 billion in 10-year notes at a high yield of 1.622 percent and bid-to-cover of 3.06.
—By CNBC’s JeeYeon Park (Follow JeeYeon on Twitter: @JeeYeonParkCNBC)
Coming Up This Week:
THURSDAY: CPI, jobless claims, current account, 30-yr bond auction, AOL shareholders mtg; Earnings from Kroger, Smithfield Foods, Pier 1 Imports
FRIDAY: Empire state mfg survey, treasury int'l capital, industrial production, consumer sentiment, credit card default rates reported, quadruple witching
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