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Market Snapshot

Blue-chip stocks end lower; Apple lifts Nasdaq

NEW YORK (MarketWatch) -- Blue-chip stocks finished lower Monday, ahead of potentially market-moving events later in the week, and Apple Inc. shares climbed on a $1 billion verdict, providing a lift to the Nasdaq Composite.

"It looks like kind of a blurring trading day, which might be indicative of a relatively boring week, although we do have Jackson Hole coming up, but that's at the very end," said Hank Smith, chief investment officer at Haverford Investments, of Federal Reserve Chairman Ben Bernanke's speech scheduled for Friday in Wyoming.

Also, European Central Bank President Mario Draghi could offer hints on ECB policy when he speaks Saturday at the Fed's annual symposium.

"A lot of this rally off the late May or early June lows is from Draghi's comments that the ECB would do whatever it takes to keep the euro okay, together, so any clarity he can bring to that statement will be viewed positively," said Smith.

The Dow Jones Industrial Average (DJIA) fell 33.3 points, or 0.3%, to close at 13,124.67.

Twenty of the Dow's 30 components finished in the red, including International Business Machines Corp. (IBM) , off 1.1%. IBM said it would buy human-resources software maker Kenexa Corp. (KNXA) for about $1.3 billion. Read more on IBM and Kenexa.

The S&P 500 Index (SPX) fell 0.69 point to 1,410.44, with utilities and technology the best performers and telecommunications and materials faring worst among its 10 sectors.

The Nasdaq Composite Index (COMP) rose 3.4 points, or 0.1%, to 3,073.19.

The dollar (DXY) edged up against currency rivals, including the euro (EURUSD) . Treasury prices gained, with the yield on the 10-year note (10_YEAR) falling to 1.65%. Read more on bonds.

"Looks like a confused market, as bond prices rise, signaling fear, but small-cap stocks continue their outperformance signaling the opposite," said Michael Gayed, chief investment strategist at Pension Partners LLC.

Movers: Apple, Tiffany

Apple shares (AAPL) gained 1.9% after the iPad maker won a patent fight with South Korean rival Samsung Electronics. Apple is the largest component of the Nasdaq Composite. (005930) (SSNLF) . Read more on Apple.

On the S&P 500, Tiffany & Co. (TIF) jumped 7.2% after the upscale jewelry retailer reduced its fiscal-year sales and profit outlooks, with the cut less steep than some had feared. "They missed on the top and bottom line, and yet the stock is up, which is counter to what one would have anticipated, but expectations were for a much bigger miss," said Smith at Haverford Investments. Read more on Tiffany & Co.

Hudson City Bancorp Inc. (HCBK) shares gained 16% after M&T Bank Corp. (MTB) said it would acquire the company in a deal worth about $3.7 billion. Read MarketWatch First Take on M&A in banking.

Dollar Thrifty Automotive Group Inc. (DTG) advanced 7.5% after Hertz Global Holdings Inc. (HTZ) said it would acquire its rival car-rental company for about $2.6 billion in cash. Read more on Dollar Thrifty and Hertz.

Shares of Best Buy Co. (BBY) rallied 3.2% after the consumer-electronics chain said it reached agreement with founder Richard Schulze that will let him pursue its acquisition plan. Read more on Best Buy.

Decliners edged just ahead of advancers on the New York Stock Exchange, where 504 million shares traded. Composite volume neared 2.5 billion.

The price of oil fell, with crude futures for October delivery (CLV2) retreating 68 cents, or 0.7%, to $95.47 a barrel. Gold advanced, with the most active contract (GCZ2) adding $2.70, or 0.2%, to end at $1,675.60 an ounce. Read more on gold.

An index of regional manufacturing activity from the Federal Reserve Bank of Dallas showed a narrower contraction in August than in July.