The major indices are on the retreat. The decline is mostly
broad-based, with notable weakness in energy (-2.5%) and financials
(-1.8%).
Merrill Lynch (MER 15.67, -0.18) left its quarterly dividend unchanged
at $0.35 per share, which is equivalent to an annual yield of 8.8% at
current prices. Merrill Lynch previously agreed to be acquired by Bank
of America (BAC 21.08, +0.01).