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NEW YORK - US STOCKS fell on Monday as investors returning from year-end holidays cashed in profits from last week's powerful rally and braced for upcoming corporate earnings reports.
The Dow Jones Industrial Average shed 80.44 points (0.89 per cent) to 8,954.25 and the technology-dominated Nasdaq fell 4.18 points (0.26 per cent) to 1,628.03 at the closing bell.
The broad-market Standard & Poor's 500 index retreated 4.25 points (0.46 per cent) to a preliminary close of 927.55.
With little economic news on tap, the market pulled back from Friday's strong rally to open 2009.
'Sentiment may be taking a blow as traders fret weak corporate profits ahead of fourth-quarter earnings season, which is set to kick off later this month,' analysts at Charles Schwab & Co. said. -- AFP
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