By Stewart Lewis
(June 12 – 17:30 ET) – With a slew of economic reports due this week and speeches from the heads of the central banks in the U.S. and Canada set for tomorrow and Thursday, respectively, investors are exercising caution.
In the U.S., technology stocks fell, while blue chips edged lower. The NASDAQ composite index closed down 106.96 to 3767.88. The Dow Jones industrial average closed for the day, down 49.85 points to 10564.21.
Technology shares declined, following an announcement from Citrix Systems that its second-quarter earnings will fall far short of expectations. Shares of the software maker were down 46% extending heavy losses that began during the latter part of last week. Most technology heavyweights followed suit and dropped.
In Canada, the Toronto Stock Exchange 300 composite index finished higher after a day of active trading. The exchange climbed 90.79 to 9819.63.
The CDNX closed slightly lower today, down just 0.69 points to 3472.01. Dennis Burdett, chairman of the venture exchange announced his departure today. He cited a family illness as his reason for leaving.
Trade in the Canadian dollar was quiet today. Analysts are waiting to hear what U.S. Federal Reserve Chairman Alan Greenspan has to say, tomorrow. The loonie closed at US67.77¢ today, down from US67.82¢ on Friday.