U.S. stocks dropped moderately, reversing earlier gains in the final hour of trading as concern grew that efforts to lift the economy out of stagnation will be withdrawn prematurely.  Stocks got some boost following the central bank’s widely-expected decision to hold interest rates steady but the rally faded soon after as traders found few surprising revelations in the Fed statement.

Although the Fed, in its policy statement, contended that it would continue to employ a wide range of tools to stimulate the economy, investors saw little reason to rejoice, wondering if the stocks were too expensive at current levels.  The Fed reiterated that it will slow its purchase of mortgage-backed securities, signaling its confidence that an economic recovery is indeed underway.  However, there was no talk of exit strategy methods and timetables.  Nevertheless, the FOMC minutes, released at 2:15 ET, maintained the Fed's intentions to keep "exceptionally low levels

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U.S. stocks fell on Monday as a resurgent U.S. dollar took a toll on commodity prices and investors paused to gauge if the outlook for corporate profits justified the market’s recent run to 11-month highs.

Caterpillar Inc , down 2.5 percent, was among the top drags after the maker of bulldozers, excavators and other products said worldwide August sales of machinery to dealerships fell.

Crude oil futures shed 3.5 percent to $69.48 a barrel and spot gold prices dropped below $1,000 an ounce. The S&P materials <.GSPM> index fell nearly 2 percent.

Shares of Exxon Mobil Corp declined 1 percent to $69.26, while gold miner Newmont Mining Corp shed 3.1 percent to $43.55.

The Dow Jones industrial average <.DJI> lost 55.85 points, or 0.57 percent, to 9,764.35. The Standard & Poor’s 500 Index <.SPX> declined 6.64 points, or 0.62 percent, to 1,061.66. The Nasdaq Composite Index <.IXIC> dipped 6.77 points, or 0.32 percent, to 2,126.09.

The Nasdaq’s losses were curbed

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Newmont Mining Corp. (NEM), the largest U.S. gold producer, is emphasizing on exploration near its existing mines in Nevada to bolster its reserves. Newmont is exploring 18 deposits near its existing mines, which could add 4 million to 7 million ounces to its gold reserves.

Based in Colorado, Newmont is trying to boost reserves to benefit from historically high gold prices. In June, the company concluded its purchase of the remainder of the Boddington gold project, the largest in Australia, from AngloGold Ashanti Ltd. (AU). The $2.9 billion mine will have an annual capacity of about 1 million ounces at a projected cost of $300 an ounce.

Newmont’s gold sales fell 5.7% to 1.2 million ounces in the second quarter. After which the company lowered the higher end of its 2009 gold sales forecast range to 5.4 million ounces from 5.5 million ounces. The company sold 5.2 million ounces of

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Today we are featuring top-performing “Energy" equity mutual funds, which primarily invest in energy or natural resources companies.

Investors can find such funds by checking out the entire list of the Zacks #1 Rank Energy Equity Funds.

3 Power Picks

Nuveen Tradewinds Global Resources A (NTGAX) was incepted in December 2006. It seeks long-term capital appreciation by investing in securities selected using an eclectic, value-oriented process.

The fund invests in securities that appear undervalued due to investor overreaction, misperceptions and short-term focus and that have the prospect of strong or improving business fundamentals.

The fund’s top holdings include Newmont Mining Corp. (NEM), Suncor Energy Inc. (SU) and Newcrest Mining Ltd.

Calvert Global Alternative Energy A (CGAEX) aims to achieve long-term growth of capital by investing at least 80% of its net assets in equity securities of companies involved in alternative energy.

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 U.S. Global Investors Gold and Precious Metals (USERX) was founded in July 1974. The investment seeks long-term growth of capital plus protection against inflation and monetary instability; current income is secondary.

This non-diversified fund focuses on selecting companies with established producing mines. It invests in equity securities of companies predominantly involved in the mining, fabrication, processing, marketing or distribution of metals, including gold, silver, platinum group, palladium and diamonds.

The fund’s top holdings include Randgold Resources Ltd. (GOLD), Kinross Gold Corp. (KGC) and Newmont Mining Corp. (NEM).

U.S. Global Investors Tax-Free (USUTX) seeks to provide a high level of current income that is exempt from federal income taxation and to preserve capital.

The fund uses a combination of a top-down and bottom-up strategies to select investment-grade municipal securities. It may also invest in debt securities of any maturity.

Unit holders have to

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ING Global Value Choice A (NAWGX) seeks long-term capital appreciation. The fund invests in undervalued US and foreign companies that possess catalysts to improve profitability and/or unlock value.

The fund normally invests in equity securities of companies located in a number of different countries around the world, which may include the United States, believed to have prices below their long-term value. As of January 31, its portfolio turnover was 73%.

The fund's key holdings include Newmont Mining Corp. (NEM), Lihir Gold Ltd. (LIHR) and Barrick Gold Corp. (ABX).

ING Mid Cap Opportunities A(NMCAX) was incepted in August 1998. The investment seeks long-term capital appreciation.

The fund normally invests at least 80% of its net assets in the common stocks of mid-sized U.S. companies the managers believe have above-average prospects for growth. It may also invest in derivative instruments

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Chicago, IL - June 9, 2009- Kevin Matras shows how to calculate a stock's price target and how to find stocks currently trading below them. Stocks in this week's article include Air Methods Corp. (AIRM), Consol Energy, Inc. (CNX), Consolidated Water Co., Ltd. (CWCO), Newmont Mining Corp. (NEM) and Noven Pharmaceuticals, Inc. (NOVN).

Screen of the Week written by Kevin Matras of Zacks Investment Research:

I wrote about this back in February when the market was putting in its lows and everyone was wondering what their stock's price target was or how low it was going to go.

Today, after a pretty big run up, people are still wondering what their stock's price target is, but now they're wondering how high it's going to go.

Either way, it's important for everyone to know how to calculate their stock's price target.

You can

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Today we are featuring top-performing "Energy" equity mutual funds, which primarily invest in energy or natural resources companies.

Investors can find such funds by checking out the entire list of the Zacks #1 Rank Energy Equity Funds.3 Power Picks

Nuveen Tradewinds Global Resources A (NTGAX) was incepted in December 2006. It seeks long-term capital appreciation by investing in securities selected using an eclectic, value-oriented process.

The fund invests in securities that appear undervalued due to investor overreaction, misperceptions and short-term focus and that have the prospect of strong or improving business fundamentals.

The fund's top holdings include Newmont Mining Corp. (NEM), Suncor Energy Inc. (SU) and Newcrest Mining Ltd.

Calvert Global Alternative Energy A (CGAEX) aims to achieve long-term growth of capital by investing at least 80% of its net assets in

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USAA Precious Metals and Minerals (USAGX) was incepted in August 1984 and seeks long-term capital appreciation and protection against inflation. Current income is a secondary objective.

This non-diversified fund invests primarily in equity securities of domestic and foreign companies principally engaged in the exploration, mining, or processing of gold and other precious metals and minerals. The fund distributes dividends annually.

The fund's top holdings include Newmont Mining Corp. (NEM), IAMGold Corp. (IMG) and Eldorado Gold Corp. Ltd. (ELD).

USAA Growth and Tax Strategy (USBLX) seeks a conservative balance between tax-exempt income and the potential for long-term growth of capital. It aims to minimize the impact of federal income taxes on shareholders.

The fund typically invests a majority of assets in tax-exempt bonds and money market instruments and the remainder in blue chip stocks. As of November 2008, its

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Newmont Mining Corp.'s (NEM) first-quarter earnings of 44 cents per share, excluding items, topped the raised consensus by 4 cents.

This Zacks #2 Rank ("Buy") company reaffirmed its equity gold sales guidance of between 5.2 million and 5.5 million ounces for the full year, and costs applicable to sales of between $400 and $440 per ounce.

Newmont's capital expenditure for the current fiscal year remains between $1.4 billion and $1.6 billion.

Meanwhile, the company recorded 20% year over year decline in revenues to $1.55 billion during the quarter.

The full-year consensus estimate has increased by 19 cents over the past 2 months to $2.04 per share.

Shares of the gold producer are down about 2% today amid lower-than-usual volume of approximately 3.8 million, compared to average volume of about 6.7 million.

"NEM" Free Stock Analysis: Buy? Sell? Hold?Zacks Investment Research