U.S. Markets End Monday Mixed

New York, NY (AHN) - U.S Markets started Monday strong on better than expected homes sales data but ended mixed after the financial sector pulled back on news from Lehman Bros. (LEH).

The National Association of Realtors Pending Homes Sales Index was 6.3 percent higher in April to 88.2 from the March level of 83.

The market expected a decrease in the April number negative 0.5 percent. The positive number lifted the indexes in pre-market futures trading and all three major averages opened higher.

The financial sector pulled in on news that Lehman will need to raise $6 billion in capital, part of which will be used to cover the $2.8 billion loss the company incurred in its second quarter. All the major broker/dealers were pressured by the news as Merrill Lynch (MER), Morgan Stanley (MS) and Goldman Sachs (GS) all closed down by more than 2 percent on Monday.

The Dow Jones Industrial was the leader on the day closing higher 70 points or 0.58 percent. The S&P 500 closed slightly higher Monday gaining 1 point or 0.08 percent. The tech sector was the laggard on Monday with the Nasdaq Composite losing 15 points or 0.61 percent.

Apple (AAPL) helped weigh on the Nasdaq as the stock sold off Monday after Steve Jobs spoke at the annual World Wide Developers conference in San Francisco. As anticipated going into the conference, Jobs unveiled the new iPhone to hits stores July 11. Apple closed lower $4.03 or 2.17 percent.

Crude oil traded lower sparked by U.S. Treasury Secretary Henry Paulson's comments that he wouldn't rule out intervention in order to stabilize the dollar. Oil last traded lower $3.87 a barrel to $134.67.