U.S. stocks on Monday narrowed gains before closing, ending mixed.
In the earlier trading sessions, Wall Street rose on China's strong economic data and several merger deals.
China's retail sales rose at an 18.7-percent annualized rate in November, which buoyed the market sentiment.
General Electric Co. said it will buy British oilfield services company Wellstream Holdings Plc for about 800 million pounds to expand its subsea equipment and services portfolio. And Dell Inc. will acquire Compellent Technologies Inc.. The activities of M&A boosted confidence in equities.
Besides, the tax cut compromise between President Barack Obama and the Republicans was scheduled for its first vote in the Senate on Monday afternoon. The package including extension of tax cuts first introduced in the Bush administration for another two years, extension of unemployment insurance and one-year reduction in Social Security taxes, is expected to get pass easily.
But before the closing, the gains narrowed as the retail and technology stocks fell.
The Dow Jones industrial average added 18.24 points, or 0.16 percent, to 11,428.56. The Standard & Poor's 500 index rose 0.06 to 1,240.46 and the Nasdaq was down 12.63 points, or 0.48 percent, to 2,624.91.
In the earlier trading sessions, Wall Street rose on China's strong economic data and several merger deals.
China's retail sales rose at an 18.7-percent annualized rate in November, which buoyed the market sentiment.
General Electric Co. said it will buy British oilfield services company Wellstream Holdings Plc for about 800 million pounds to expand its subsea equipment and services portfolio. And Dell Inc. will acquire Compellent Technologies Inc.. The activities of M&A boosted confidence in equities.
Besides, the tax cut compromise between President Barack Obama and the Republicans was scheduled for its first vote in the Senate on Monday afternoon. The package including extension of tax cuts first introduced in the Bush administration for another two years, extension of unemployment insurance and one-year reduction in Social Security taxes, is expected to get pass easily.
But before the closing, the gains narrowed as the retail and technology stocks fell.
The Dow Jones industrial average added 18.24 points, or 0.16 percent, to 11,428.56. The Standard & Poor's 500 index rose 0.06 to 1,240.46 and the Nasdaq was down 12.63 points, or 0.48 percent, to 2,624.91.
