* Bond markets closed for holiday, seen damping stocks
* Transocean reaches deal with Icahn over dividend
* ViroPharma shares soar, to be acquired by Shire for $4.2
* Indexes: Dow flat; S&P flat; Nasdq off 0.2 pct
By Angela Moon
NEW YORK, Nov 11 U.S. stocks were little changed
on Monday as investors took a breather after the Dow and the S&P
500 indexes rose five weeks in a row.
Trading volume was likely to be quiet due to the Veterans
Day holiday with government offices and bond markets closed, and
no major data or earnings on tap.
The Nasdaq index, which has been underperforming the
broader market recently, continued to lag. While the S&P 500
rose more than 0.5 percent last week, the Nasdaq fell
0.1 percent for the week.
"Should technology take the reins and move above here, that
will likely be the catalyst that leads the S&P 500 to new
all-time highs." said Bryan Sapp, senior trading analyst at
Schaeffer's Investment Research in Cincinnati, Ohio.
The Dow Jones industrial average was down 1.73
points, or 0.01 percent, at 15,760.05. The Standard & Poor's 500
Index was down 0.79 point, or 0.04 percent, at 1,769.82.
The Nasdaq Composite Index was down 5.95 points, or
0.15 percent, at 3,913.28.
The S&P 500 closed out the week higher for the fifth week in
a row on Friday, its longest streak of weekly gains since
February, boosted by an unexpectedly strong jobs report.
Although the data sparked some concerns that the U.S. Federal
Reserve may taper its stimulus efforts sooner than expected,
investors shifted focus to supporting the view the U.S. economy
is stronger than previously thought.
"Equities should continue higher into year end, even if as
we suspect investors become nervous about a December-time
tapering at the Fed's final meeting of the year," said Andrew
Wilkinson, chief economic strategist at Miller Tabak & Co in New
Among individual stocks, shares of ViroPharma
jumped 26 percent to $49.45 following news that London-listed
Shire is buying the company for $4.2 billion, attracted
by a pipeline of potentially lucrative drugs to treat rare
Transocean Ltd shares rose 3 percent to $54.99 after
the company said it reached an agreement with Carl Icahn in
which the offshore driller will pay a $3 per share dividend and
reduce the number of board seats.
Tesla Motors Inc shares were down 0.1 percent to
$137.55, extending losses after the stock suffered its worst
weekly loss since early 2012.