Concerns about the economy and the federal deficit have not subsided, even if positive news headlines have most investors feeling more upbeat about the outlook for stocks.
Also on Monday, Hong Kong stocks settled 1.61 percent higher on Monday as investors were feeling a little more upbeat about European leaders saying over the weekend that they will pull out all the stops to save the euro.
After an upbeat spring driven by consumers on long-withheld shopping sprees, retailers are feeling the hit as something of a hangover sets in and the bills hit mailboxes across America.