The Dow Fell 11 Points, Nasdaq Lost 8

The Dow fell 10.81 points to close at 13,476.72, the Nasdaq lost 8.04 points to close at 2,539.38, and the S&P 500 fell 1.39 points to close at 1,501.19. Oil gained $2.31 a barrel to close at $64.86.

Volume was modest with 2.93 billion shares trading on the NYSE and 2.02 billion trading on the Nasdaq. Decliners topped Advancers by a margin of 20:13 on the NYSE and 19:11 on the Nasdaq.

In individual stories, Alliance Data Systems (NYSE: ADS) jumped 24.6% after entering into a definitive agreement to be acquired by Blackstone Capital Partners V L.P., an affiliate of The Blackstone Group, in a transaction valued at approximately $7.8 billion, including the assumption of certain debt. Under the terms of the agreement, Blackstone will acquire all of the outstanding common stock of Alliance Data for $81.75 per share in cash.

Doral Financial Corporation (NYSE: DRL) fell 19.4% after the Company has entered into a definitive stock purchase agreement, providing for the sale by the Company of $610 million of Doral common stock for $0.63 per share to a newly-formed entity (Holdings), in which Bear Stearns Merchant Banking ("BSMB") and other investors, including Marathon Asset Management, Perry Capital, the D. E. Shaw group, Tennenbaum Capital Partners, Eton Park Capital Management, Goldman Sachs & Co., Canyon Capital Advisors and GE Asset Management, will invest. Following the recapitalization transaction, Holdings will own approximately 90% of Doral's common stock outstanding, and Doral's existing common shareholders will own approximately 10%.

Investors will be looking for economic data on University of Michigan Consumer Confidence (10:00AM EST)

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