The S&P 500 Index and the NASDAQ Composite finished slightly higher Monday, but the Dow Jones Industrial Average finished in the red, mainly due to more negative news about China cancelling $6 billion in orders with Boeing. Economic data was light but showed factory orders down 0.5% month over month, slightly higher than the consensus forecast. Pinterest also disappointingly announced their IPO price will be lower than their last private valuation price. They set a price range of $15-17 per share with a valuation around $11 billion. GE stock also fell more than 5% after analyst Stephen Tusa cut his rating to underweight and his price target to $5, which is 46% lower than the current price of $9.50.
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