Strength in the dollar was the highlight of a quiet Monday session. Talk in the stock market is centering on how rare this year's rally is, showing no correction despite the 60 percent run-up. The S&P 500, where more than 90 percent of the stocks are trading above their 200-day moving average, slipped 0.3 percent to end at 1,064.
Economic data were limited to the index of leading economic indicators which continues to point to strength ahead and where the coincident index is pointing to July as the economic pivot. Risk that the G20 may talk up the dollar later this week tripped short covering, pushing the dollar index up 0.4 percent to 76.78. The rise in the dollar hurt oil which lost more than $2 to end at $69.43. Gold and silver appear to have hit resistance, ending at $1,004 and $16.85.