Stocks Opened Flat after Record Rose

U.S. stocks opened near unchanged on Monday following the S&P 500 index’s record run above 1,600 and the April jobs report, which exceeded expectations. The Dow Jones Industrial Average lately was off 30.64 points at 14,943.32. The S&P 500 index gained 0.30 points to 1,614.72. The Nasdaq Composite rose 6.34 points to 3,384.97.

As Congress imposes deep spending cuts on everything from national defense to child care, shipping industry executives are urging lawmakers to spend hundreds of millions of dollars more on a river network that accounts for a declining share of the nation’s domestic freight.

TPG Capital and Warburg Pincus LLC are exploring a sale or public offering of Neiman Marcus Group Inc. eight years after acquiring the luxury retailer, Bloomberg News reported Monday citing two people familiar with the matter.

CNN Money is reporting: Wal-Mart Stores Inc., which had $469.2 billion in revenue last year, has reclaimed the top ranking in the Fortune 500 ranking of the largest U.S.

Growth in China’s services sector slowed sharply in April to its lowest point since August 2011, a private sector survey showed on Monday – fresh evidence of rising risks to a revival in the world’s No.2 economy. The HSBC services Purchasing Managers’ Index (PMI) fell to 51.1 in April from 54.3 in March.