Stocks wobbled up and down Monday, unsure of how to turn with the presidential election looming near. One stock that jumped was Ancestry.com, the genealogy website, which announced it will be bought by European private equity firms.
Stock prices dropped Friday after the release of poor corporate earning reports from Microsoft, General Electric and McDonald's. All 10 industry groups in the S&P 500 fell, led by materials and technology stocks.
Stocks dropped after investors had a mixed reaction to earnings reports from JPMorgan Chase and Wells Fargo. Financial and utility stocks had the biggest declines among the 10 industries in the S&P 500.
Stock traders were discouraged by an International Monetary Fund report released overnight that said the global economy was weakening. Energy stocks were the only major group in the S&P 500 to finish higher.