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Stocks ended little changed Monday, although the Nasdaq managed to close at an 18-month high, as investors weighed corporate deals, a stronger dollar and weaker commodity prices ahead of key economic news due later this week.
The Dow Jones industrial average (INDU) lost 14 points, or 0.1%. The S&P 500 index (SPX) was little changed. Both ended the previous session at their highest levels since Jan. 20.
The Nasdaq composite (COMP) added 6 points, or 0.3%, ending at its highest point since Sept. 2, 2008.
Stocks rallied Friday after a government report showed the economy lost fewer jobs in February than economists had expected.
But stocks drifted Monday as investors looked to a host of economic news due later in the week, including reports on state-by-state unemployment Wednesday, weekly jobless claims Thursday and retail sales Friday.
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Hong Kong Raises Tax on Luxury Homes to Cool Market |
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Hong Kong will increase taxes on luxury-home purchases for the first time in more than a decade and boost the supply of apartments as a 29 percent gain in prices last year fuels concerns the market may be overheating.
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Greek Debt Chief Faces Tough Task |
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Petros Christodoulou has just started one of the least enviable jobs in European financial markets—persuading wary investors to buy Greek debt.
A U.S.- and London-trained former bond trader, Mr. Christodoulou was last week named head of Greece's debt management agency, a normally obscure post that has taken on new importance as Greece scrambles to raise cash to service its growing mountain of debt.
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