Investors took a pause, waiting to see if there will be further stimulus announced by U.S. and European central bankers later this week. After meeting on an island in northern Germany, U.S. Treasury Secretary Timothy Geithner and Germany’s finance minister on Monday vowed to cooperate in advancing policies to stabilize the global and European economies. Spain's economy fell 0.4%, shrinking for a third straight quarter. Apple and Cisco Systems rose, but semis weighed down the tech sector. Apple rose 1.7% after the co. said downloads of its new Mountain Lion operating system topped 3 million in four days, the most successful operating system launch in its history. Also, Apple and Samsung begin their patent battle in court Monday. Seagate Technologies fell 8.6% in after-hours activity after the hard-disk drive maker’s fourth-quarter results and revenue outlook fell short of Wall Street estimates. Implied volatility inched higher on modest trading volumes.
