U.S. stocks climbed this morning, with energy companies leading Wall Street's bounce back from its worst week in more than two years, amid a round of corporate deals. Then they gave back their winning. Just like gamblers in Vegas, this is not a good sign going into this trading week.
PetSmart gained after agreeing to be purchased for about $8.25 billion by a group led by BC Partners. Emerson Electric rose as it sold a power-transmission unit to Regal-Beloit for $1.4 billion.
Equities offered muted reaction to a gauge of home builder sentiment falling a point in December after a large jump last month.
A Federal Reserve report had industrial production rebounding in November, after a Fed measure of manufacturing in the New York region dropped in December.
At the moment, the Dow is off 7 points.
The S&P 500 is down a point.
Nasdaq has lost 15.
The U.S. dollar gained against other global currencies and dollar-denominated commodities including gold and oil fell.
Crude oil futures for January delivery dropped 56 cents, or 0.1 percent, to $57.26 a barrel; gold futures for February delivery shed $12.40, or 1 percent, to $1,210.10 an ounce.
The yield on the 10 year Treasury note used to figure mortgage rates and other consumer loans rose 4 basis points to 2.1219 percent.
Fasten your seatbelt!
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