Thursday, January 29, 2015
FAIRFIELD-SUISUN, CALIFORNIA
99 CENTS

US stocks manage meager gains on mostly quiet day

Wall Street

In this March 8, 2010, file photograph, a sign for Wall Street is shown near the New York Stock Exchange. World stock markets mostly declined Monday as the turmoil in Iraq dampened sentiment and investors held back ahead of the Federal Reserve's monthly policy meeting later in the week. (AP Photo/Mark Lennihan, File)

By
June 18, 2014 |

Investors nudged U.S. stocks into positive territory Monday, thanks in part to another round of corporate couplings.

Three proposed acquisitions, including medical device maker Medtronic’s $42.9 billion bid for rival Covidien, helped the market eke out a slight gain for the second trading day in a row.

Homebuilding stocks also got a boost from a survey showing that U.S. homebuilders’ outlook on the housing market improved this month.

Stocks mostly hovered between small gains and losses through much of the day as traders monitored the conflict in Iraq and considered its potential impact on oil prices.

Major U.S. stock indexes were down in premarket trading, but began to rebound within the first hour as investors bid up shares in Ireland-based Covidien. The stock jumped $14.73, or more than 20 percent, to $86.75. Medtronic shed 67 cents, or 1.1 percent, to $60.03.

“Merger Monday clearly gave a lift to the market,” said Joe Peta, managing director at Novus.

Two other deals also drew heightened interest from traders.

Williams Cos. hit an all-time high after the pipeline operator agreed to buy a part of natural gas processor Access Midstream Partners for nearly $6 billion. Williams vaulted $8.84, or 18.7 percent, to $56.02.

TW Telecom climbed $2.65, or 7.3 percent, to $38.99 after the Internet provider agreed to be acquired by Level 3 Communications for about $7.3 billion, including debt. Level 3 shares fell $1.79, or 4.1 percent, to $42.30.

The market was still heading for a loss in the final hour of trading, then recovered within the last 10 minutes.

All told, the Standard & Poor’s 500 index rose 1.62 points, or 0.1 percent, to 1,937.78. The index is down less than 1 percent from its most recent all-time high of 1,951.27 set a week ago.

Seven of the 10 sectors in the S&P 500 index rose, led by utilities.

The Dow Jones industrial average added 5.27 points, or 0.03 percent, to 16,781.01. The Nasdaq composite gained 10.45 points, or 0.2 percent, to 4,321.11.

The three stock indexes are all up for the year.

Bond prices were flat. The yield on the 10-year Treasury note held steady at 2.60 percent.

The market has been sluggish in recent months, even as investors have had more than a few geopolitical concerns to worry about. Earlier this year, it was currency concerns in Turkey and then the fallout from Russian-Ukraine tensions. Last week, the insurgency in Iraq erupted, causing a spike in oil prices.

Still, the day-to-day market swings have been mostly minor.

Monday was the 41st day in a row that the S&P 500 did not move 1 percent, one way or the other, Peta noted.

“That lack of volatility is something we have not seen since 1995,” he said. “You can call it complacent, or non-volatile or sluggish, but certainly this is a different environment than we’ve seen for quite some time.”

At the same time, a flurry of merger news has helped lift stocks in recent weeks, a trend that underscores that stocks are not seen as expensive right now.

“Companies are looking to redeploy cash, looking to hopefully ignite growth through acquisition,” said Sean Lynch, managing director of global equity for Wells Fargo Private Bank.

There was also encouraging news on the housing market.

The National Association of Home Builders/Wells Fargo builder sentiment index rose this month to the highest level since January. The latest report suggests homebuilders’ confidence in the housing market is improving. Homebuilder stocks rose, led by LGI Homes, which added 60 cents, or 3.4 percent, to $18.24.

Investors will be looking ahead this week to what the Federal Reserve will say on Wednesday, when it wraps up its latest two-day meeting of its policymaking committee.

“Where we’ll see risk injected (into the market) will be if there’s anything but a rubber stamp of the Fed waiting until next year to raise rates,” he said.

The Associated Press

The Associated Press

LEAVE A COMMENT

Discussion | No comments

The Daily Republic does not necessarily condone the comments here, nor does it review every post. Read our full policy

.

Solano News

 
1st release for birds with mysterious goo a success

By Amy Maginnis-Honey | From Page: A1, 1 Comment | Gallery

 
Council backs beer, wine sales for Vacaville store

By Ryan McCarthy | From Page: A3

 
Vacaville police seek help to find sex offender

By Kevin W. Green | From Page: A3, 3 Comments | Gallery

 
Sweep by sheriff’s team nets 4 arrests

By Kevin W. Green | From Page: A3, 3 Comments

 
Travis starts work on Functional Fitness Center

By Ian Thompson | From Page: A3

 
Boy Scouts to screen award-winning film

By Ian Thompson | From Page: A3

 
Church makes ready for health, wellness fair

By Susan Hiland | From Page: A3

 
4-H Annual Presentation Day returns in February

By Susan Hiland | From Page: A3

Vacaville SWAT team serves search warrant

By Kevin W. Green | From Page: A3

 
Real estate occupancy continues to climb

By Kevin W. Green | From Page: A3, 1 Comment

Fairfield police log: Jan. 27, 2015

By Susan Hiland | From Page: A10

 
Suisun City police log: Jan. 27, 2015

By Susan Hiland | From Page: A10, 1 Comment

.

US / World

 
Air Force probing alleged ‘treason’ remark by general

By The Associated Press | From Page: A1, 1 Comment | Gallery

Expect tiny tuxes but no real puppy love at doggy weddings

By The Associated Press | From Page: A2 | Gallery

 
Large salmon release planned

By The Associated Press | From Page: A4

Violations mount for toxic recycler

By The Associated Press | From Page: A4

 
Quake rattles N. California coast

By The Associated Press | From Page: A4

Second arrest in student stabbing

By The Associated Press | From Page: A4, 1 Comment

 
Marshals track down missing treasure hunter

By The Associated Press | From Page: A5

‘Drunk’ excuse falls flat in Vandy rape trial

By The Associated Press | From Page: A5

 
Attorney General nominee defends Obama immigration changes

By The Associated Press | From Page: A5, 1 Comment | Gallery

Police seek law to alter Google app

By The Associated Press | From Page: A5, 1 Comment

 
ISIS extends hostage deadline

By The Associated Press | From Page: A6

Euro coast guards scramble to locate Syrian ghost ship

By The Associated Press | From Page: A6

 
Chinese regulators go after online sale of fake goods

By The Associated Press | From Page: A6

Investigation stems from police-involved shooting outbreak

By The Associated Press | From Page: A6

 
Hezbollah missiles kill soldiers

By New York Times | From Page: A6

Tape: Scientist offers to build nuke bomb targeting New York

By The Associated Press | From Page: A10 | Gallery

 
.

Opinion

Don’t brush off bullying

By Kelvin Wade | From Page: A7, 2 Comments

 
Editorial Cartoon: Jan. 29, 2015

By Daily Republic Syndicated Content | From Page: A7

Just be honest and come forward

By Letter to the Editor | From Page: A7, 1 Comment

 
A truly misinformed writer

By Letter to the Editor | From Page: A7, 27 Comments

 
India now has 322 billion reasons to fix economy

By William Pesek | From Page: A7

.

Living

Today in History: Jan. 29, 2015

By The Associated Press | From Page: A2

 
Community Calendar: Jan. 29, 2015

By Susan Hiland | From Page: A2

Deadbeat boyfriend ruined my relationship with my granddaughter

By Kathy Mitchell and Marcy Sugar | From Page: A9

 
Horoscope Jan. 29, 2015

By Holiday Mathis | From Page: A9

.

Entertainment

TVGrid

By Daily Republic Syndicated Content | From Page: B5

 
Theater legend Joel Grey reveals that he is gay

By The Associated Press | From Page: B5, 2 Comments

Super Bowl advertisers aim not to offend

By The Associated Press | From Page: B5

 
.

Sports

Kings center DeMarcus Cousins hoping to make All-Star team

By The Associated Press | From Page: B1

 
Rodriguez wrestlers pull out 34-24 win over Wood

By Brian Arnold | From Page: B1 | Gallery

 
Solano men cruise past LMC for biggest win of season

By Daily Republic staff | From Page: B2

NFL players who started young show more thinking problems

By The Associated Press | From Page: B2

 
GM John Schneider has been architect of Seahawks’ success

By The Associated Press | From Page: B2

Patriots not dwelling on last Super Bowl loss in Arizona

By The Associated Press | From Page: B2

 
Woods returns to Phoenix with plenty of memories

By The Associated Press | From Page: B2

Tony Stewart acquires national sprint car series tour

By The Associated Press | From Page: B2

 
Head of NCAA enforcement: Academic misconduct on rise

By The Associated Press | From Page: B3

Chicago Cubs’ Ernie Banks statue moved downtown for tribute

By The Associated Press | From Page: B3

 
Kobe Bryant has surgery, expected to be out for 9 months

By The Associated Press | From Page: B3

Korda, Lewis, Munoz tied for lead at LPGA season opener

By The Associated Press | From Page: B3

 
This date in sports history for Jan. 29, 2015

By The Associated Press | From Page: B4

 
.

Business

.

Obituaries

.

Comics

Wizard of Id

By Daily Republic Syndicated Content | From Page: A8

 
Peanuts

By Daily Republic Syndicated Content | From Page: A8

For Better or Worse

By Daily Republic Syndicated Content | From Page: A8

 
Blondie

By Daily Republic Syndicated Content | From Page: A8

Zits

By Daily Republic Syndicated Content | From Page: A8

 
Rose is Rose

By Daily Republic Syndicated Content | From Page: A8

Baby Blues

By Daily Republic Syndicated Content | From Page: A8

 
Baldo

By Daily Republic Syndicated Content | From Page: A8

Get Fuzzy

By Daily Republic Syndicated Content | From Page: A8

 
Sally Forth

By Daily Republic Syndicated Content | From Page: A8

B.C.

By Daily Republic Syndicated Content | From Page: A8

 
Beetle Bailey

By Daily Republic Syndicated Content | From Page: A8

Frank and Ernest

By Daily Republic Syndicated Content | From Page: A8

 
Garfield

By Daily Republic Syndicated Content | From Page: A8

Dilbert

By Daily Republic Syndicated Content | From Page: A8

 
Pickles

By Daily Republic Syndicated Content | From Page: A8

Cryptoquote

By Daily Republic Syndicated Content | From Page: A9

 
Sudoku

By Daily Republic Syndicated Content | From Page: A9

Crossword

By Daily Republic Syndicated Content | From Page: A9

 
Bridge

By Daily Republic Syndicated Content | From Page: A9

Word Sleuth

By Daily Republic Syndicated Content | From Page: A9