Stocks put in a lackluster performance on Monday. The major averages finished the day near the unchanged mark, consolidating gains posted last week.
Europe was in focus during the session, amid continued talks about the sovereign debt crisis there. Investors responded negatively to most of the major corporate news of the day. Shares of Halliburton suffered a bout of profit taking following the release of its earnings report. Research In Motion saw its stock decline as well, after the maker of the BlackBerry smartphone revealed a leadership change.
The Dow fell 11.66 points, or 0.09 percent, to finish at 12,708.82. The Nasdaq dropped 2.53 points, or 0.09 percent, to close at 2,784.17. The S&P 500 edged up less than a point, or 0.05 percent, to end at 1,316.00.
European stocks finished the day higher. There was some early weakness, but investors in the region expressed confidence that there would be progress in a solution for the sovereign debt crisis there. France and Germany each rose by about 0.5 percent. The U.K. advanced 0.9 percent. The Greek market jumped more than 5 percent amid negotiations about the country's debt.
Shares of oilfield services provider Halliburton Co. (HAL) finished the session lower by 2 percent.
The company reported a sharp rise in its fourth-quarter profit, driven by strong revenue growth amid increased drilling activity. Both adjusted earnings per share from continuing operations and quarterly revenues topped analysts' expectations. The company said it expects activity increases to continue through 2012. However, shares rallied last week, and traders took profits on Monday
BlackBerry maker Research In Motion (RIMM, RIM.TO) announced that its Co-Chief Executive Officers Jim Balsillie and Mike Lazaridis have stepped down after about two decades at the helm of the company. They are succeeded by Chief Operating Officer Thorsten Heins as President and CEO, effective immediately.
Shares fell 8.5 percent amid disappointment that the company chose an insider as its new top executive.
Earnings will be foremost on the agenda on Tuesday. McDonald's (MCD), Dupont (DD) and Johnson & Johnson (JNJ) will be among the firms releasing their quarterly results. Apple (AAPL), Yahoo (YHOO) and Advanced Micro Devices (AMD) are scheduled to report after Tuesday's closing bell.
There are no major economic reports set to be released Tuesday. However, the Federal Reserve begins its two-day policy meeting, with the results set to be announced Wednesday. There is no change expected in interest rates. However, the Fed will be putting into place a new communications strategy.
President Barack Obama's State of the Union Address is scheduled for Tuesday night. It represents his last such speech before the election in November.
The economy remains one of the central issues of the campaign and is likely to play a significant role in the president's address. Also in focus will be the Republican reaction to the speech. Following Newt Gingrich's stunning victory in the South Carolina primary, the GOP nomination remains wide open.
There are some key economic reports set to be released later this week. These include statistics on durable goods orders, new home sales and GDP.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.