Stocks Slip

Stocks traded lower on Monday. Bank of America, Cisco, Alcoa and DuPont led the decline. Brands took a breather amid fading QE3 enthusiasm and renewed euro zone concerns. Investors were disappointed by news that European Union finance ministers have failed to agree on a timetable for a more unified banking sector. Meanwhile, crude oil futures shed $2.38 to settle at $96.62 a barrel. In ratings moves, Longbow downgraded Intel to “neutral” from “buy.” Exane upgraded Novartis to “outperform” from “neutral.”

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