Advertisement
Singapore markets closed

  • Straits Times Index

    3,280.10
    -7.65 (-0.23%)
     

  • Nikkei

    37,934.76
    +306.28 (+0.81%)
     

  • Hang Seng

    17,651.15
    +366.61 (+2.12%)
     

  • FTSE 100

    8,111.58
    +32.72 (+0.41%)
     

  • Bitcoin USD

    64,431.96
    +821.61 (+1.29%)
     

  • CMC Crypto 200

    1,392.89
    -3.64 (-0.26%)
     

  • S&P 500

    5,048.42
    -23.21 (-0.46%)
     

  • Dow

    38,085.80
    -375.12 (-0.98%)
     

  • Nasdaq

    15,611.76
    -100.99 (-0.64%)
     

  • Gold

    2,360.30
    +17.80 (+0.76%)
     

  • Crude Oil

    83.89
    +0.32 (+0.38%)
     

  • 10-Yr Bond

    4.7060
    +0.0540 (+1.16%)
     

  • FTSE Bursa Malaysia

    1,575.16
    +5.91 (+0.38%)
     

  • Jakarta Composite Index

    7,036.08
    -119.22 (-1.67%)
     

  • PSE Index

    6,628.75
    +53.87 (+0.82%)
     

US stocks open lower as Avago buys Broadcom

AFP

US stocks opened lower Thursday as Avago Technologies announced a $37 billion deal to acquire fellow chipmaker Broadcom.

Five minutes into trade, the Dow Jones Industrial Average was at 18,100.99, down 62.00 points (0.34 percent).

The broad-based S&P 500 dipped 2.86 (0.13 percent) to 2,120.62, while the tech-rich Nasdaq Composite Index dropped 4.29 (0.08 percent) to 5,102.31, retreating from Wednesday's record.

Trade has been volatile this week with strong gains Wednesday essentially reversing sharp losses in the prior session.

The combination of Avago and Broadcom will have a market value of $77 billion and revenue of $15 billion and create a leader in the surging market for mobile devices like smartphones and tablets.