Midday Report: Macron's Win Brings Certainty to Global Markets; U.S. Stocks Fall

Stocks creep lower to begin the new week even as Emmanuel Macron's victory in the French election brought certainty to global markets.

Author:: Keris Alison Lahiff
Publish date:: May 8, 2017 11:55 AM EDT

Stocks crept lower to begin the new week even as Emmanuel Macron's victory in the French election brought certainty to global markets. His win ensures France's active role in the European Union. Straight Path Communications (STRP) rocketed higher after confirming it had received a better offer than its current merger agreement with AT&T (T) - Get Report . The offer came from an undisclosed multi-national telecom. AT&T now has the chance to match or improve its own bid. Newell Brands (NWL) - Get Report climbed on a better-than-expected quarter. Adjusted profit came in a nickel above estimates. The parent of Yankee Candle and Sharpie also upped its quarterly dividend by 21%. Sinclair Broadcasting (SBGI) - Get Report has secured a deal to acquire Tribune Media (TRCO) - Get Report . The cash-and-stock deal will need to clear regulatory hurdles before it can close.