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The Markets Now: Stocks Mostly Down While M&A News Abounds
Economic news began on a downbeat note Monday as the debt limit debate intensified and eurozone industrial output saw its biggest slump in three years in November. Industrial output is down 3.7% year over year. Stocks were mostly down or flat but several companies announced takeovers and buyout offers. The S&P 500 (INDEXSP:.INX) opened at 1470.22 (-0.05%) and fell 0.18% to 1469.36. The Nasdaq (INDEXNASDAQ:.IXIC) declined from 3115 to 3112.92. The Dow (INDEXDJX:.DJI) however inched up 0.07% to 13497. The United Parcel Service (NYSE:UPS) announced that it would buy TNT Express (AMS:TNTE) for $7 billion but the bid was ...
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