|Copyright:||XINHUA NEWS AGENCY|
|Source:||Xinhua News Agency (China)|
NEW YORK, Mar 08, 2010 (Xinhua via COMTEX) — Wall Street traded in a narrow range around the neutral line on Monday after major averages ending Friday’s session at a fresh six-week closing high.
U.S. stocks rallied sharply last Friday, boosted by a better- than-expected unemployment report. Major indexes surged more than 1 percent and the S&P extended its winning streak to the sixth day.
With few economic data due in the first half of the week, investors will keep hunting other sings to figure out the direction of the market.
Before the market opened on Monday, AIG announced to sell its foreign life insurance unit to MetLife Inc for about 15.5 billion dollars, its second major asset sale in a week as it raises funds to repay a massive U.S. government bailout.
The Dow Jones industrial average dipped 13.91, or 0.13 percent, to 10,552.29. The Standard & Poor’s 500 index inched down 0.63, or 0.06 percent, to 1,138.06 and the Nasdaq was up 3.47, or 0.15 percent to 2,329.82.