Dow retreats from 11-month high


Stocks retreated Monday, pulling the Dow Jones Industrial Average ($DJI) off an 11-month high amid concern that the remarkable rally since March might be outpacing future profit growth.

The Dow fell 41 points, or 0.4 percent, to close at 9,779; while the broader S&P 500 ($INX) shed four points, or 0.3 percent, to finish at 1,065. The tech-heavy Nasdaq Composite ($COMPX) closed up five points, or 0.2 percent, at 2,138.

Shares in Dell (DELL) tumbled more than four percent after the PC maker agreed to buy Perot Systems (PER) for $3.9 billion. Bank of America (BAC) fell more than two percent after The Wall Street Journal reported that the bank may drop a loss-sharing agreement with the government.

For more on stocks making moves today, be sure to check out BloggingStock's market wrap.