Gains in utility stocks offset a retreat in energy shares on Monday, leaving U.S. stocks slightly higher. Bobbi Rebell reports.
Investors not making big moves ahead of the start of earnings season for banks. The Dow barely extending its win streak into a seventh day. Energy stocks weighed on the S&P 500. Oppenheimer's Alec Young: SOUNDBITE: ALEC YOUNG, INVESTMENT STRATEGIST, OPPENHEIMER FUNDS (ENGLISH) SPEAKING: "A lot of people want to see what the tone at the beginning of earnings season starts to look like, and they're waiting for some of that news flow to come later in the week." Dell's buying data storage giant EMC for $67 billion, the biggest tech deal ever. EMC shares rose. But EMC's majority-owned cloud-computing business, VMware, will remain an independent, publicly traded company, and its shares fell. Eli Lilly dropped the most among S&P 500 stocks Monday. The drug maker stopped a late-stage trial of a cholesterol drug because it was ineffective. Twitter's shares fell. The tech news site Re/code says the microblogging company is planning to lay off staff this week. Fiat Chrysler is selling a ten percent stake in Ferrari. It values the sports car maker at nearly $10 billion. In Europe, investors took profits after last week's big gains. Aerospace stocks led the losers.