Expectations of a strong start proved misplaced, as investors chose to sit on their hands ahead of today's release of the FOMC's meeting notes.
The S&P 00 edged up a point (0.1%) to 2,046, but the mid-cap S&P 400 and the small-cap Russell 2,000 both dipped a point, or 0.1%, with the former ebbing to 1,422 and the latter to 1,095.
The collapse of the proposed takeover of Allergan PLC (NYSE:AGN) by Pfizer Inc (NYSE:PFE) does not seem to have done the share price of either pharmaceutical company any harm.
Allergan's ADRs were up 3.1% at $243.91 after an hour or so of trading while Pfizer's shares were 2.5% better at $32.15.
Sector peer Tokai Pharmaceuticals Inc (NASDAQ:TAKI) was also wanted, advancing 16.4% to $6.81, as it said it would present at the annual Needham Healthcare Conference on 13 April.
BIND Therapeutics Inc (NASDAQ:BIND) took a tumble, however, losing 68 cents at $1.72, after it announced plans to slash its workforce.
In addition to the workforce reduction initiatives, the company is mulling raising additional capital, a strategic collaboration with one or more parties, or the licensing, sale or divestiture of some of the company’s proprietary technologies.