A Red Finish

Indices closed well into the red zone on Monday. Bank brands such as Morgan Stanley, Bank of America, and Citigroup led the way down. Stocks traded lower amid concern over partial results in the Italian elections. Meanwhile, Apple took a breather today after Needham slashed its price target to $710 from $750. The firm did, however, maintain its 2013 and 2014 earnings estimates for the iPhone innovator. Elsewhere, crude oil futures slipped by two cents to settle at $93.11 a barrel.

Disclosures:
All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the sole basis in making any decisions and is not intended to replace the advice of a qualified professional, such as a tax consultant, insurance adviser or attorney. Although this material is designed to provide accurate and authoritative information with respect to the subject matter, it may not apply in all situations. Readers are urged to consult with their adviser concerning specific situations and questions. This is not to be construed as an offer to buy or sell any financial instruments. It is not our intention to state, indicate or imply in any manner that current or past results are indicative of future profitability or expectations. As with all investments, there are associated inherent risks. Please obtain and review all financial material carefully before investing.