At midday in New York on Monday, the Dow Jones Industrial Average held even at 12,273.12. Meanwhile, the Nasdaq Composite had added 0.1 percent to 2,388.94, while the S&P 500 0.1 was percent lower to 1,400.93.

The mortgage sector continued to have problems after trading was suspended for New Century Financial (NYSE: NEW) after it said it could not afford to repurchase defaulting mortgages as its creditors demanded. New Century’s shares were down 42 percent to $1.87 in electronic trade before the markets opened, at which time it was no longer being quoted.

Elsewhere among mortgage lenders, NovaStar (NYSE: NFI) dropped 13 percent to $4.56. Meanwhile, Countrywide (NYSE: CFC) said that it could see its earnings affected by the problems in the subprime mortgage market. The announcement, along with a downgrade from “market perform” to “underperform” from Wachovia Securities, sent Countrywide 3 percent lower to $35.03.

The homebuilding sector was also hurt by the upheaval among mortgage lenders. DR Horton (NYSE: DHI) fell 3.9 percent to $23.47.

In the retail sector, Dollar General (NYSE: DG) was 25.9 percent higher to $21.13 after it said it had accepted an offer of $22 per share from private equity group Kohlberg Kravis Roberts, 31 percent higher than Dollar General’s Friday close.

In other mergers and acquisitions news, insurer United Health (NYSE: UNH) said it would spend $2.6 billion to purchase Sierra Health Services (NYSE: SIE). Sierra gained 15.8 percent to $41.56 on the news.

At midday on Friday, the New York equities markets seemed poised to end the week lower than they began as weak data and rising crude oil prices hurt investor sentiment. The Dow Jones Industrial Average was 0.2 percent lower for the day and 0.9 percent down on the week to 11,284.45 and the S&P 500 was also 0.2 percent lower for the session so far and 0.6 percent lower for the week to 1,294.18. While the Nasdaq Composite was 0.1 percent higher for the day at 2,139.64, it was 1.1 percent lower on the week.

Among the economic data that contributed to this week’s declining sentiment was a larger than expected decline in the sale of both new and existing homes in July. Durable goods orders were also down in the latest figures. The bad news on home sales hurt the home improvement retail sector, with Home Depot dropping 4.1 percent during the week to $33.36, while Lowe’s lost 10.1 percent to $26.55. Beyond the housing data, Lowe’s was also hurt by a second quarter report that showed profits lower than had been expected.

Other retailers were also down on the week as the slowdown in home sales raised concerns that consumer spending in other areas would also decline. Among consumer electronics retailers, Best Buy dropped 7.1 percent to $45.53, while Circuit City was 12.2 percent lower to $22.50. Discount retailer Dollar General dropped even more, falling 13.2 percent to $12.23.

In the homebuilding sector, KB Home was 8.9 percent lower over the week to $40.44, partly on the news that it is being informally investigated by the Securities and Exchange Commission for its practices in the granting of stock options.

The news on orders for durable goods affected heavy industry. Caterpillar, the construction equipment maker, declined by 3.5 percent to $65.91, while aerospace company Boeing dropped 4.3 percent to $74.27.

At midday on Thursday, New York equities markets were up after new data showed that the US economy was moderating but not falling off sharply when the Institute for Supply Management’s non-manufacturing index dropped more than had been expected in June. By mid-session, the Dow Jones Industrial Average was up 0.8 percent to 11,237.15, while the Nasdaq Composite and the S&P 500 had each added 0.4 percent, to 2,160.99 and 1,275.86 respectively.

In the retail sector, Costco declined by 2.7 percent to $55.29 on sales figures that were lower than expected in June. Elsewhere in the sector things were better, with Target up 1.4 percent to $48.94. TJX, which owns TJ Maxx and Marshall’s, added 3.5 percent to $23.00. Dollar General advanced by 4 percent to $14.39.

The energy sector was mixed. Peoples Energy was up 8.4 percent to $38.99 on the news that it is talking to WPS Resources about a merger. The news sent WPS down 4.5 percent to $47.92. In other mergers and acquisitions news, Peabody Energy added 5 percent after it said it would buy Australian coal company Excel coal. The Peabody announcement helped rival Arch Coal to advanced 2.3 percent to $43.22.

With the announcement that the Florida Supreme Court has upheld a lower court ruling that threw out a $145 billion damage award against the tobacco industry, tobacco stocks were up substantially. Reynolds American added 4.1 percent to $119.01, while Altria was up 6.6 percent to $78.19, its biggest one-day gain since November 2004.