Markets Are Doing Nothing

Stocks are modestly lower in another quiet day on Wall Street.

The Dow is down 8 points, the S&P 500 is down 1 point, and the Nasdaq is down less than 1 point.

The VIX, however, is off yesterday’s lows at 0.9%.

The biggest story of the day is RadioShack, which is currently down 8% after reporting a wider than expected quarterly loss.

On the economic data front, its been another quiet day. The NFIB’s small business confidence index came in at 96.6 for May, the highest reading since 2007.

The BLS’s Job Openings and Labour Turnover Summary, or JOLTS report, showed that job openings surged to 4,455,000 in April, beating expectations for 4,050,000.

Also in corporate news, Allergan rejected the latest takeover offer from Valeant Pharmaceuticals and activist investor Bill Ackman.

Last night, PayPal President David Marcus announced he would step down to join Facebook’s mobile-messaging products team.

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