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Stocks slip on Wall Street as a busy week for markets begins; Saks rises

NEW YORK, N.Y. – Stocks are slipping on Wall Street as a busy week for financial markets gets underway.

The Dow Jones industrial average fell 36 points, or 0.2 per cent, to close at 15,521 Monday.

The Standard & Poor’s 500 index fell six points, or 0.4 per cent, to 1,685. The Nasdaq composite fell 14 points, or 0.4 per cent, to 3,599.

Saks rose 4 per cent to $15.95 after the luxury department store operator said it would be acquired by the parent company of Lord & Taylor for $2.4 billion.

There’s lots of news for investors this week, including a Federal Reserve meeting that winds up Wednesday and the government’s monthly employment report Friday.

Two stocks rose for every one that fell on the New York Stock Exchange. Volume was light at 2.7 billion shares.