Stocks went nowhere, although the Dow closed at a new all-time high. Scoreboard:
Dow: 16,580.64, +0.18%
NASDAQ: 4,071.36, +0.49%
And now the top stories:
A Strange Week. Stocks capped off five days of uneven gains to finish marginally higher. The S&P500 gained 0.50%. The Dow finished the week up 1%. The NASDAQ closed down 0.44%. Treasuries saw a similar theme, with yields on 10-years climbing 1.65% to $US2.622.
Apple Flat Friday. Apple shares barely budged in the wake of its reported acquisition of Beats, falling just 0.42%.
Job Openings Go Nowhere. JOLTS data from the BLS was little changed from last month. There were 4 million job openings in March, down from 4.1 million. Quitting rates were unchanged at 1.8%
Dick Parsons Named New Clippers CEO. The former Time Warner CEO will take over until new ownership is appointed following Donald Sterling’s ban.
NYAG Probes Big Banks’ Links To HFTs. The Wall Street Journal reported New York Attorney General Eric Schneiderman is investigating big banks’ dark pools, which are private trading venues that are often associated with high-frequency trading. “Their proliferation also has left the stock market more fragmented, contributing to the risks of a technical glitch that could roil investors,” the Journal says.
Brazil Probes Batista. Brazil is investigating whether billionaire Eike Batista may have engaged in insider trading.
Pfizer Deal Under Pressure. Both U.S. and U.K. regulators are now questioning the soundness of a blockbuster deal that would see Pfizer purchase AstraZeneca for $US106 billion.
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