Market Wrap for Monday, August 19:

Toward the end of trading Monday, the Dow traded down 0.34 percent to 15,029.46 while the NASDAQ dropped 0.18 percent to 3,596.62. The S&P also fell, dropping 0.43 percent to 1,648.07.

Major Averages

The Dow Jones Industrial Average closed down 0.47 percent to 15,010.74. 

The S&P 500 closed down 0.59 percent at 1,646.06.

The Nasdaq closed down 0.38 percent at 3,589.09.

Top Headline
Saks (NYSE: SKS) reported a wider second-quarter loss. Saks posted a quarterly loss of $19.6 million, or $0.13 per share, versus a year-ago loss of $12.3 million, or $0.08 per share. Excluding one-time items, it lost $0.10 per share.

However, analysts were expecting a loss of $0.08 per share. Its revenue rose 1% to $707.8 million from $704.1 million, versus analysts' estimates of $732.3 million. Its same-store sales increased 1.5%.

Commodities
In commodity news, oil traded down 0.49 percent to $106.93, while gold traded down 0.35 percent to $1,366.20. Silver closed up 0.01 percent Monday to $22.34, while copper fell 0.77 percent to $3.34.

Eurozone
European shares were lower today. The Spanish Ibex Index tumbled 1.97 percent, while Italy's FTSE MIB Index dropped 2.46%. Meanwhile, the German DAX declined 0.29 percent and the French CAC 40 dipped 0.97 percent while U.K. shares fell 0.51 percent.

Economics
There were no major economic releases Monday.

Earnings Reports

Urban Outfitters URBN reported Q2 EPS of $0.51 versus the estimated $0.48, beating by $0.03. EPS were Up 21% from the same quarter last year. Revenue came in at $758.50M versus the estimated $768.76M. Sales were Up 12% year over year.

Bob Evans Farms BOBE reported Q1 EPS of $0.58 versus the estimated $0.58, inline. EPS were Unchanged from the same quarter last year. Revenue came in at $329.40M versus the estimated $335.19M. Sales were Down 20% year over year.

International Rectifier IRF reported Q4 EPS of $(0.09) versus the estimated $(0.10), beating by $0.01. EPS were Up 55% from the same quarter last year. Revenue came in at $276.50M versus the estimated $260.13M. Sales were Up 3% year over year.