Wall Street quietly shifted between small gains and losses early today, according to the Associated Press. Futures for the Dow Jones Industrial Average, the S&P 500, and the Nasdaq were all effectively flat before the opening bell.
A cautious mood remains in global markets with uncertainty about the U.S. economy, even as it continues to grow. Many economists don’t expect a recession, but a sharp slowdown in U.S. hiring last month raised questions about its strength.
In premarket trading today, Kellanova shares jumped 7.8% on news that Mars is buying the food company in a deal worth nearly $30 billion, giving it access to a huge portfolio of consumer brands from Cheez-Its to Pop-Tarts.
Shares of Southwest Airlines rose 1.4% after Elliott Investment Management said it is launching a proxy fight with the airline and plans to nominate 10 candidates to its board.
In energy trading, benchmark U.S. crude turned 28 cents lower to $78.07 per barrel. Brent crude, the international standard, lost 17 cents to $80.52 per barrel.
In currency trading, the U.S. dollar rose modestly to 146.89 yen from 146.84 yen.
