FLAT FINISH: The Dow Jones industrial average was down almost all day and finished slightly lower. The Standard & Poor's 500 and the Nasdaq composite wavered between small gains and losses and finished slightly higher.

OUT OF THE OFFICE: Trading volume was light as investors prepared for the Fourth of July. The news that most affected the market came in the morning, when a trade group reported that U.S. manufacturing had slowed for the first time in nearly three years.

THE EUROPE PARTY: Though markets in the U.S. were tepid, major indexes in France, Britain and Germany all jumped notably. They were still riding the euphoria from Friday, when European leaders announced a plan meant to save struggling banks.