Corporate deals and tech stocks stories were the bright spots on Wall Street Monday on a day when the indexes ended otherwise relatively flat.
The S&P and Dow each dropped .1% percent of their value, while the Nasdaq added .3%.
The Dow dropped 6-points to 15,420.
The Nasdaq added 10-points to 3,670.
The S&P 500 slipped 2-points to 1,689.
Gold rose $2 to $1,336/ounce.
Oil added 77-cents to $106.89/barrel.
BlackBerry shares rose about 10% on news it will consider a sale.
Dole Foods rose after its CEO said he would take the company private, and Steinway Musical Instruments gained after receiving a new buyout offer.
And Apple rose after the blog, All-Things-D, said the company would release the latest version of its i-Phone on September 10.
Businesses and consumers in Texas are more optimistic than the rest of the country, according to the most recent CapitolOne Quarterly Market Pulse Survey: 79% of large businesses, and 58% of small businesses in Texas say conditions are excellent or good. This is a marked contrast to the national results, in which only 52% of small business owners report conditions as only fair or poor.
It could be the travel mode of preference of the future:
The latest project of billionaire Elon Musk–who developed Pay Pal, Tesla electric cars, and commercial space rockets–is called the “Hyper Loop.” The mode would enable travel at subsonic speeds of .6-Mach, allowing a trip from Los Angeles to San Francisco in less than an hour.
Gasoline prices continue to slide:
Around Houston, the average pump price is down another penny overnight, to $3.42/gallon–6-cents less than last week. Oil Price Information Service analyst, Tom Kloza, expects prices to continue to slump: “We’re going to be producing more oil in October than we’re importing. And, we haven’t seen anything like that since the 1980′s,” says Kloza.
Mexico’s president wants to amend his country’s constitution to allow foreign investors to help develop energy production: Mexico, which has large reserves of oil and natural gas, has been unable to increase production to keep up with global demands. Investors would be permitted to help with drilling and exploration projects and in return they can share in profits.
New data show we’re remaining stingy about carrying credit card balances, and are making more of an effort to make timely payments. TransUnion reports the rate of U.S. credit card payments at least 90 days overdue fell in the second quarter to .57% from .63% a year earlier.
The U.S. Postal Service is still losing bucks, but the agency says it’s starting to turn its books around. U-S-P-S announced $740 million dollars in losses for its third quarter in 2013–down from $1.3 billion and $1.9 billion dollars in losses the first two quarters.