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Brands Retreat

Monday’s session ended in the red zone. Alcoa, Hewlett-Packard, and 3M led the descent. Brands traded lower after Germany warned that a solution to Europe’s problems may take months. Meanwhile, crude oil shed 44 cents to settle at $86.38 a barrel. IBM reported quarterly numbers after the closing bell. The computer-services titan said net income rose 7 percent to $3.84 billion, or $3.19 per share, from $3.59 billion, or $2.82, a year ago. Looking ahead, earnings season rolls on tomorrow with details due from Bank of America and Goldman Sachs.
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