Wall St Stabilizes After 6 Days of Gains, Energy Sector Advances

Posted by Joseph R. Fonseca
Monday, June 23, 2014

 

U.S. stocks ended little changed on Monday in a quiet session, as investors saw little reason to continue buying on Wall Street after a winning streak of six days of the S & P 500, although the activity mergers and acquisitions boosted the energy sector.

* The S & P 500 halted its longest streak profit since mid-April, after hitting session highs on Friday, with the Dow Jones. Investors await catalyst to continue the progress, but the upward trend is seen Wall Street largely intact.

* Sales of U.S. existing homes rose in May at a rate more than double than expected, while the preliminary reading of manufacturing index hit its highest level since May 2010.

* Other probes gave positive signals on articles about the global economic outlook, while Europe remained threatened by the specter of stagnation.

* The Dow Jones industrial average fell 9.82 points, or 0.06 percent, at 16,937.26 units, the S & P 500 index lost 0.26 points, 0.01 percent, to 1962.61 and the Nasdaq Composite It added 0.64 points, or 0.01 points, to 4368.68 units.

* The energy sector posted the biggest climbs of the day, rising 0.4 percent. Wisconsin Energy agreed to buy Integrys Energy Group Inc 9,100 million. Shares of Integrys achieved the best performance of S & P 500, adding 12.1 percent to $ 68.35.

* Plus, Oracle Corp. announced that it will acquire Micros Systems in a transaction valued at 5,300 million operation. Micros titles rose 3.4 percent to $ 67.98, while Oracle's papers totaled 0.7 percent to $ 41.1.

* Shares of ParkerVision Inc sank to lose 63 percent to $ 1.85, after a U.S. judge overturned a verdict that had ordered Qualcomm Inc to pay $ 173 million for patent infringement. 

(Editing by Bill Trott Spanish)

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