U.S. stocks slipped on Monday as investors took a break from a four-week rally, but they remained optimistic the advance would resume as a flurry of deals suggested companies were seeing value in the market.
Defying September’s track record as the worst month for stocks, Wall Street was on track for one of its best months in a decade. In order for the rally to continue, market sentiment hinges on a recent trend of declining volatility.
Consumer goods group Unilever Plc plans to buy U.S. hair care group Alberto Culver Co for $3.7 billion. Alberto Culver surged 19.6 percent to $37.64, while Unilever’s New York-traded stock added 1.1 percent to $28.86.
The Dow Jones industrial average was down 48.22 points, or 0.44 percent, at 10,812.04. The Standard amp; Poor’s 500 Index was down 6.51 points, or 0.57 percent, at 1,142.16. The Nasdaq Composite Index was d