NEW YORK — Stocks ended mixed after a round of mergers and acquisitions raised some hope for the economy.
Financial shares rose after insurer American International Group Inc. reached a deal to sell one of its major foreign divisions to MetLife for $15.5 billion. MetLife had confirmed last month that it was in talks with AIG to buy its unit Alico.
It’s the second major sale AIG has made this month as part of its plans to trim operations, shed assets and repay more than $100 billion in government bailout money it received during the credit crisis.
Also, Royal Dutch Shell and PetroChina offered to buy Australia’s Arrow Energy Ltd. for $3 billion in cash and stock. Royal Dutch Shell already owns a 10 percent stake in Arrow’s international business.
Meanwhile, health care stocks fell after President Barack Obama called for passage of health care legislation.
The modest moves in the overall market follow a jump in stocks Friday. The government’s February jobs report was stronger than expected.
The Dow Jones industrial average fell 13.68, or 0.1 percent, to 10,552.52. The Standard & Poor’s 500 index slipped 0.20, or less than 0.1 percent, to 1,138.50. That breaks a streak of six straight advances. The Nasdaq composite rose 5.86, or 0.25 percent, to 2,332.21, its highest close since September 2008.
Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.72 percent from 3.69 percent late Friday. The dollar rose against other major currencies, while gold fell.
With little economic data due during the first half of this week, traders will be looking for other cues to give the market direction.
Investors will get a handful of economic reports toward the end of the week that should provide some insight into the health of the economy. Reports on wholesale and business inventories, retail sales and consumer sentiment are all scheduled for release beginning Wednesday and running through the rest of the week.
