Stocks Are Mixed in Quiet Trading; Consumer Companies Lead 


Stocks got a little help from an international hotel deal and dueling superheroes Monday, but they could only wobble to a split finish in a quiet day of trading.

Hotel chains Starwood and Marriott climbed after a Chinese insurance company made another offer to buy Starwood.

Stocks flipped between small gains and losses for most of the day. Oil prices slipped and energy companies took modest losses. Mining and metals companies traded slightly higher.

Monday was the slowest trading day of 2016 for U.S. markets, and European exchanges were closed in view of a religious observance. Trading was closed in the U.S. Friday for a religious observance as well.

The& Dow& Jones industrial average rose 19.66 points, or 0.1 percent, to 17,535.39. The Standard & Poor’s 500 index added 1.11 points to 2,037.05, ending a three-day losing streak.

The Nasdaq composite index lost 6.72 points, or 0.1 percent, to 4,766.79. Stocks have flagged over the last few days after a five-week rally.

The government said Friday that the U.S. economy grew at a faster pace in the fourth quarter. And on Monday, the Commerce Department said consumer spending continued to grow in February, although for the third straight month, it rose by only a small amount.

Consumers have saved a lot of money as gas and heating prices have plunged, said Michael Scanlon, managing director and portfolio manager for John Hancock Asset Management. But he said people aren’t sure that prices will stay low, so they haven’t ramped up their spending. That has surprised experts.

Benchmark U.S. crude fell seven cents to $39.39 a barrel in New York. Brent crude, used to price international oils, lost 17 cents to $40.27 a barrel in London. That weighed on energy companies. Hess lost $1.26, or 2.4 percent, to $50.84 and Devon Energy fell 63 cents, or 2.4 percent, to $25.84.

Noble Energy slumped after Israel’s Supreme Court struck down a deal that would have given Noble and other companies the right to start pumping natural gas from offshore deposits. The stock shed $2.65, or 8.2 percent, to $29.69.

Cosmetics giant Avon Products said it reached a deal with activist investors, including Barington Capital, that headed off a possible proxy fight. Avon stock rose 36 cents, or 8.4 percent, to $4.64.

Pandora Media skidded after the streaming music company announced a management shakeup. Co-founder Tim Westergren will replace Brian McAndrews as CEO. The stock tumbled $1.33, or 12.2 percent, to $9.60.

In other energy trading, wholesale gasoline was little changed at $1.47 a gallon. Heating oil fell 2 cents to $1.18 a gallon. Natural gas rose 4 cents, or 2.3 percent, to $1.85 per 1,000 cubic feet.

The price of gold fell $1.50 to $1,220.10 an ounce. Silver lost 1 cent to $15.19 an ounce. Copper rose 2 cents to $2.25 a pound.

Asian stocks were mostly lower. Seoul’s Kospi edged down 0.1 percent. Tokyo’s Nikkei 225 gained 0.8 percent.

Bond prices rose. The yield on the 10-year U.S. Treasury note dipped to 1.88 percent from 1.91 percent. The euro inched up to $1.1200 from $1.1177 late Thursday. The dollar rose to 113.28 yen from 112.81 yen.

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