Wall Street is trading mostly flat today as the stock market can't seem to pick one direction or the other without any strong news. The lull in the market comes after an active first quarter earnings season, but now there doesn't seem to be any strong catalyst one way or the other. Oil continues to trade under $100 a barrel, and gold has also come back down to trading just under $1,500 per ounce. Financial stocks have been the highlight so far today led by Nasdaq OMX (NASDAQ: NDAQ) and InterContinentalExchange (NYSE: ICE), whose shares are trading up after news that they two have decided to drop their bid for NYSE Euronext (NYSE: NYX). Elsewhere, PIMCO head Bill Gross emphasized that though his firm is moving away from U.S. Treasuries, they aren't shorting it either.
Major U.S. Stock Indices
DJIA: 12,607.78 (+0.10 percent)
S&P 500: 1,337.20 (-0.05 percent)
NASDAQ: 2,806.98 (-0.76 percent)
Russell 2000: 833.06 (-0.31 percent)
In other news:
- More on the Nasdaq OMX and ICE decision to drop their bid for the NYSE. [NY Times]
- The details of the rape allegations and scandal involving IMF chief Dominic Strauss-Kahn are pretty gnarly. [Bloomberg]
- Congress continues to play the fiddle as the U.S. economy burns. [WSJ]
- The U.S. space shuttle Endeavor takes off for the last time, marking the 134th and penultimate launch of the NASA program.
- Some good news for the job market: Major corporations like GM (NYSE: GM) and Caterpillar (NYSE: CAT) are looking to bring back jobs to the U.S. from overseas.
Check back as more news develops.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer