Dow sights on latest in series of record highs
NEW YORK (MarketWatch) - U.S. stocks wavered near the flat line on Monday, catching their breath after a strong performance in the prior session that boosted the Dow industrials to a record close.
Investors are weighing encouraging Chinese economic reports that came out over the weekend, which helped Asian and European equities, and they also continue to digest Friday's better-than-expected U.S. jobs report.
Bond traders have a holiday thanks to Veterans Day, and there also will be no economic reports from the U.S. government.
The S&P 500 was last down 1 point, or less than 0.1%, to 1,770, while the Dow Jones Industrial Average dipped 2 points, also less than 0.1%, to 15,759. The Nasdaq Composite shed 6 points, or 0.1%, to 3,914.
In corporate news, ViroPharma Inc. jumped nearly 26% in premarket trading after Shire PLC said it would pay $4.2 billion, or $50 a share for the biotech firm. Shire gained 3%.
Amazon.com Inc. dipped 0.3% following news that it has reached a deal with the U.S. Postal Service to make deliveries on Sunday to select customers in Los Angeles and New York, rolling out to more cities next year.
Shares of Twitter Inc. lost 4% in their third day of trading on the New York Stock Exchange. Analysts at Sterne Agee started coverage of Twitter with a neutral rating on Monday. The social-media firm's stock popped 73% on Thursday, its first day of trading.
In financial markets, gold and oilprices declined, while the dollar index , a measure of the U.S. unit against six rivals, also dipped.
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