By Staff Reporters
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U.S. stocks declined in the first session of the holiday-shortened week, as the economic docket was void of any major releases. The economic calendar will heat up on Wednesday, with reports on durable goods orders, manufacturing and services PMIs, consumer sentiment, and new home sales, as well as the minutes from the Fed’s November monetary policy meeting.
The equity front was also quiet today, but Dow member Walt Disney Company’s announcement that Robert Iger is returning to the company as CEO boosted its shares. In other equity news, Dow component Merck & Co. Inc. announced a $1.35 billion acquisition of clinical stage biotech company Imago BioSciences Inc.
The Treasury yield curve continued to invert ahead of this week’s economic data and following recent positive inflation reports, though the U.S. dollar rallied. Crude oil prices extended a recent decline and gold was lower.
Asian stocks finished mostly lower amid lingering COVID concerns in China, and European stocks ended the day mixed as the global markets continued to assess the trajectory of monetary policies across the world.
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