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STOCKS GO NOWHERE: Here’s what you need to know

(17 Views) February 17, 2017 9:19 pm | Published by | No comment

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Randall Hill/Reuters

US stocks closed little changed but the S&P 500 recorded its strongest weekly performance since the beginning of the year, following the record highs reached from Monday through Wednesday.

Here’s the scoreboard:

  • Dow: 20,607.23, -12.54, (-0.06%)
  • S&P 500: 2,348.98, +1.76, (0.07%)
  • Nasdaq: 5,833.07, +18.17, (0.31%)
  1. Unilever rejected a takeover bid from fellow consumer-goods giant Kraft Heinz. The offer from Kraft Heinz valued Unilever at about $ 143 billion, and it would have been one of the biggest mergers in history.

  2. SoftBank, the Japanese telecom company that owns Sprint, is looking to make a second run at T-Mobile US, Reuters reportedFor regulatory reasons, the two companies will be able to begin negotiations in April, the report said.
  3. US household debt rose by 1.8%, or $ 226 billion, to $ 12.58 trillion in the fourth quarter, according to the New York FedOutstanding student loans — the largest source of debt besides mortgages — increased by $ 31 billion to a record $ 1.31 trillion.
  4. The US oil rig count increased by six this week to 597, according to Baker HughesWest Texas Intermediate crude oil — the US benchmark — was on pace to close lower for the first week in five after the rig-count release. 

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The post STOCKS GO NOWHERE: Here’s what you need to know appeared first on Business Insider.

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