Oracle Makes a Shocking Announcement while Stocks Drop after Labor Day Holiday

Last week’s positivity did not hold up over the holiday weekend. Investors started the short week with a disappointing session. The Dow Jones dropped 107.24 points to 10,340.69 while the Nasdaq shed 24.86 points to close at 2,208.89. Even the S&P 500, which was riding a hot streak of positive sessions, fell 12.67 points. The financial sector in particular had a rough day. American Express (AXP), J.P. Morgan Chase (JPM), and Citigroup (C) all posted losses. There also appeared to be an increasing feeling of skepticism towrawrds the European banking market, which seemed to drag on the sector. However, Oracle (ORCL) managed to gain 5.9% after it announced its newest employee, ex-Hewlett Packard (HPQ) CEO Mark Hurd. The price of gold settled at $1,257.30 for the day, resulting in another record close. The dollar also gained against most major currencies.