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Stocks fell Monday as investors await another round of corporate earnings reports. No top tier corporate earnings were on tap for release today but scheduled reports after the bell may direct trading for the following session. Along with the upcoming corporate earnings, investors will also look for a statement from Federal Reserve Chairman Ben Bernanke on Wednesday. The Chairman is scheduled to hold a news conference after the central bank releases its official policy statement on Wednesday. The release will be presented at a news conference, the first ever, and may set the precidence for future releases. The Census Bureau reported that the sale of new homes rose more than expected in March. New home sales increased from 270,000 in February to 300,000 in March. An increase of 11% an topping economist’s forecast of 280,000. Although the bump in sales is encouraging, investors report that the housing market remains to be an area of concern. Precious metals continue to make headlines as the commodities continue to soar. Investors continue to turn to the safe haven of precious metals as tangible assets tend to hold value over stocks and bonds as prices rise. Approaching close the major market indexes are mixed. The Dow lost 26.11 points or 0.21% to 12479.88. The Nasdaq gained 5.72 points or 0.20% to 2825.88 The S&P 500 dropped 2.13 points or 0.16% to 1335.25. The Treasuries 10-year yield was 3.36%. Oil decreased by 0.08 to $112.20. June 2011 contract gold rose 5.30 to $1509.10 an ounce. May 2011 contract silver was flat at $46.06 an ounce. Author: Pamela Frost
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