US Markets Close Mixed Ahead of Senate Vote on Tax Cuts Extension

US markets closed with a mixed performance on Monday, as investors eagerly awaited the Senate vote on the proposed tax cuts extension. Economists believe that the tax package will boost economic growth and increase the budget deficit, boosting investor confidence. Meanwhile, corporate deals such as General Electric's acquisition of Wellstream Holdings PLC and Dell's planned purchase of Compellent Technologies Inc. helped the markets remain in the green.

Key Takeaways:

• The Dow Jones industrial average closed at 11,428.56, with a gain of 18.24 points, or 0.16%.
• The S&P 500 closed at 1,240.46, with a gain of 0.06 points.
• The Nasdaq composite index fell by 12.63 points, or 0.48%, to close at 2,624.91.
• Indian ADRs closed mixed, with Infosys up by 0.69%, ICICI Bank up by 0.25%, and Tata Motors up by 0.16%.
• Wipro was down by 0.13%, HDFC Bank was down by 0.85%, and MTNL was down by 0.07%.
• General Electric's acquisition of Wellstream Holdings PLC and Dell's planned purchase of Compellent Technologies Inc. were major corporate deals that contributed to the market's positive performance.

Statistics:

• Dow Jones industrial average closed with a gain of 18.24 points, or 0.16%, to 11,428.56.
• S&P 500 closed at 1,240.46, with a gain of 0.06 points.
• Nasdaq composite index fell by 12.63 points, or 0.48%, to close at 2,624.91.
• Indian ADRs had the following performances: InfoSys +0.69%, ICICI Bank +0.25%, Tata Motors +0.16%, Wipro -0.13%, HDFC Bank -0.85%, MTNL -0.07%.
• General Electric's acquisition of Wellstream Holdings PLC valued at undisclosed amount.
• Dell's planned purchase of Compellent Technologies Inc. valued at undisclosed amount.

Sources:

• Contify.com
• Accord Fintech
• Disclaimer: Accord Fintech provides the Content on "AS IS" basis without any express or implied warranties.