US stocks closed lower ahead of Greek bailout deal

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Source: Dukascopy Bank SA
© Scanpix/Reuters
US stocks inched down on Monday as traders were cautious ahead of the Greek bailout deal. Persistent worries over looming US fiscal cliff also continued to weight on US stocks. However, market sentiment remained well-supported as investors hope that consumers will spend more this month. The S&P 500 Index eased down 0.2% to close at 1,406.29. Only two in ten sectors advanced. Utility sector was the top-performer. AGL Resources, Ameren and American Electric Power jumped 2.24%, 1.05% and 1.10%, respectively. Meanwhile, Apple surged 3.15% after the AllThingsD blog announced that Apple reached an agreement to sell iTunes Credits through Facebook Gifts.  Amazon.com added 1.56% as the company plans to issue USD2.5 billion worth of unsecured notes. Among the top-losers were telecommunication as well as oil and gas sectors. Crown Castle International and Metropcs Communications dropped 1.32% and 1.22%, while Anadarko Petroleum and Cabot Oil & Gas sagged 0.39% and 3.59%.
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