The benchmark US indices snapped a four session winning streak last Friday (7 February) but still settled with solid weekly gains after hitting fresh record closing highs earlier in the week - Dow fell -277-points or -0.94%, with Boeing Co (down -1.6%) and Caterpillar Inc (-2.8%) - two economic bellwether stocks – a notable drag on the index. The broader S&P500 fell -0.54%, with Materials (down -1.46%) and Information Technology (-0.98%) leading eight of the eleven primary sectors into the red. The technology-centric NASDAQ -0.54%. In merger and acquisition (M&A) news, Fidelity National Financial fell -6.24% after the company announced plans to buy insurer FGL Holdings in a deal valued at US$2.7B. EBay Inc fell -4.74% after Intercontinental Exchange Inc (up +2.80%) said that it was no longer looking to acquire the company. For the week, the Dow gained +3%, the S&P500 +3.17% (to log its biggest weekly advance in eight months and Nasdaq +4.04% (marking the biggest weekly gain in more than a year).
