Stocks ended Monday little changed.
The Dow dipped into the red, while the Nasdaq and S&P 500 ticked up slightly.
The quiet day comes as the Federal Reserve is set to kick off its two-day monetary policy meeting on Tuesday.
We’ve got all the headlines, but first, the scoreboard:
- Dow: 20,882.37, -20.61, (-0.10%)
- S&P 500: 2,373.62, +0.81, (+0.03%)
- Nasdaq: 5,874.19, +12.52, (+0.22%)
- US 10-year bond yield: 2.613%, (+0.031)
- WTI crude oil: $US48.41, -0.08, (-0.16%)
- Intel is buying autonomous-driving firm Mobileye for $US15.3 billion. Intel will buy the Israeli company for $US63.54 per share. The two companies previously announced they were collaborating on autonomous car technology with BMW in January.
- The Atlanta Fed named Raphael Bostic as its new president. Bostic, who previously worked in the Department of Housing and Urban Development under President Barack Obama, will be first African-American regional Fed president. Janet Yellen and the Fed have in the passed faced criticism for the lack of diversity at the Fed.
- Marissa Mayer will not be CEO of pieces of Yahoo that aren’t being sold to Verizon, the company said Monday in a regulatory filing. While it’s unclear what Mayer’s role will be going forward, Mayer will receive a severance package worth about $US23 million, the filing says, if she’s fired without cause or leaves the company for a good reason.
- Bitcoin surged back on Monday. Despite the Securities and Exchange Commission ruling against a bitcoin ETF started by the Winklevoss twins that sent the cryptocurrency tumbled on Friday, bitcoin surged back above $US1,200 per coin.
- The Congressional Budget Office is expected to release its report on Republican’s Obamacare replacement shortly. The CBO’s report will break down how the American Health Car Act will impact the US budget and healthcare markets.