After starting the day on unsteady ground, stocks pared some losses and ended the day mixed. Investors were digesting the announcement that on Sunday, Ireland formally applied for a multi-billion-euro aid package from the European Union and the International Monetary Fund, which both stated they would agree to the bailout. This news increased investor concerns about potential debt problems elsewhere the eurozone, and Moody's (MCO) announced that it will likely downgrade Ireland's sovereign-credit rating.
No major economic data was scheduled for Monday, though agencies will deliver a number of weekly, monthly, and quarterly reports Tuesday and Wednesday in this holiday-shortened week.
Kevin O'Shaughnessy does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.