Stocks finished a quiet session moderately lower Monday as investors grappled with concerns about the health of corporate profits after Wachovia Corp. posted disappointing quarterly results.
Stocks edged lower on Monday after an unexpected quarterly loss from Wachovia Corp dragged down the financial sector, overshadowing strong gains in energy companies as oil closed at a record.
Consumers, beset by a credit crunch, rising energy and food costs and a prolonged housing slump, boosted spending only slightly in March with the gain reflecting soaring gasoline costs rather than any real strength in demand.
American Depositary Receipts of JA Solar Holdings Co. rose on Monday, after an analyst said shares of the Chinese solar-power company have room to rise 20 percent, despite a strong run over the past month.
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