Another Listless Session On Wall Street -- U.S. Commentary

(RTTNews) - U.S. stocks were lower Monday, as last week's upbeat jobs report for May renewed fears the Federal Reserve will soon raise interest rates.

It was yet another lackluster session on Wall Street, with shares lower for a third day in a row.

The S&P 500 closed 13.55 points, or 0.6 percent, lower at 2,079.28. The Dow Jones Industrial Average lost 82.91 points, or 0.5 percent, to 17,766.43 and turned negative for the year. The Nasdaq Composite ended the session down 46.83 points, or 0.9 percent, at 5,021.63.

Airline stocks were hit hard, with American Airlines, Delta and Southwest all posting notable losses.

Energy stocks and gambling shares were also in the red, while automakers saw modest strength.

Distillers and vintners were boosted by a report that Brazilian billionaire Jorge Paulo Lemann is in talks to acquire U.K.-based brewer Diageo Plc (DGE.L,DEO).

Shares of Diageo surged on the London Stock Exchange following the news of the reported takeover bid.

Apple (AAPL) unveiled a series of new products and features at its Worldwide Developers Conference in San Francisco today, but shares were lower by 0.5 percent.

Apple Watch updates were showcased, and Apple Music will officially launch on June 30 with a free 3-month trial. Shares of Pandora were lower on the news.

Sears Holdings Corp. (SHLD) reported a net loss for the first quarter that narrowed from last year. The improved bottom line came despite a revenue drop, reflecting improved gross margins, lower depreciation and amortization expenses as well as higher gain from asset sales. The stock dropped about 5 percent.

Elsewhere, German lender Deutsche Bank (DB) on Sunday announced the resignations of its co-Chief Executive Officers Anshu Jain and Jürgen Fitschen, and said they would be replaced by John Cryan effective July 1. Jain will quit on June 30, and Fitschen will leave after Deutsche Bank's annual shareholder meeting next May, the bank said in a statement. Shares were up 5 percent.

Syngenta AG again rejected rival Monsanto Co.'s (MON) nearly $45 billion takeover offer. Monsanto shares were up fractionally.

European stocks continue to decline. The Euro Stoxx 50 index of eurozone bluechip stocks decreased by 1.03 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.70 percent.