The S&P 500 and Nasdaq reversed course after hitting record highs Monday morning. Fred Katayama reports.
The S&P 500 and the Nasdaq reversed course to trade flat after hitting record highs Monday following the weekend French election. The dollar rose against the euro after initially falling on news of Emmanuel Macron's victory at the polls. A&G Capital chief investment officer Hilary Kramer. SOUNDBITE: HILARY KRAMER, PRESIDENT & CHIEF INVESTMENT OFFICER, A&G CAPITAL, (ENGLISH) SAYING: "We're all waiting for the next move - something to happen that will really trigger the markets either to the upside or the downside." 14:36:58 Merger Monday. Shares of both Kate Spade and Coach shot sharply higher. Coach is bagging its smaller rival for $2.4 billion. Kate's bags are popular among millennials. TV station operator Sinclair Broadcast Group is buying rival Tribune Media for about $3.9 billion. It will also assume about $2.7 billion in debt. Straight Path stock shot straight up. Sources tell Reuters Verizon raised its offer to buy the wireless spectrum holder for $3.1 billion. That's more than double AT&T's bid. European stocks dipped after the expected French election results. But the FTSE 100 closed higher.