By Victor Reklaitis, MarketWatch
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(SPX) was last down 1 point, or less than 0.1%,
to 1,770, while the Dow Jones Industrial Average(DJI) dipped 2
points, also less than 0.1%, to 15,759. The Nasdaq Composite(RIXF)
shed 6 points, or 0.1%, to 3,914.
In corporate news, ViroPharma Inc. (VPHM) jumped nearly 26% in
premarket trading after Shire PLC (SHPGY) said it would pay $4.2
billion, or $50 a share for the biotech firm. Shire gained 3%.
Amazon.com Inc. (AMZN) 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. (TWTR) 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(DXY), a measure of the U.S. unit against six rivals,
also dipped.
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