Daily Investor Briefing: Dow, S&P 500 end weaker in low volume...

	Click to View in Browser 08/5/2013 Dow, S&P 500 end weaker in low volume NEW YORK (Reuters) - Stocks drifted lower in low volume on Monday, following record closes for the Dow and the S&P 500 last week, as a lack of major news left the market directionless. Drop in jobless rate puts Fed closer to end of QE3: Fed's Fisher PORTLAND, Oregon (Reuters) - The Federal Reserve is nearer to dialing back its massive bond-buying program after the unemployment rate dropped last month, a top Fed official said on Monday, the second to make that point in as many trading days. Time Warner Cable offers proposal to CBS to end blackout (Reuters) - Time Warner Cable Inc Chief Executive Glenn Britt sent a letter to CBS Corp CEO Les Moonves on Monday offering a controversial new proposal to end the blackout of CBS shows that started Friday in markets such as New York and Los Angeles. Exclusive: ATK close to deal with gun accessory maker Bushnell - sources (Reuters) - Aerospace and defense products supplier Alliant Techsystems Inc is in advanced talks to buy Bushnell Outdoor Products Inc in a deal that could value the gun accessory maker at around $1 billion, two sources familiar with the matter said on Monday. U.S. service sector growth jumps in July as new orders surge: ISM NEW YORK (Reuters) - The pace of growth in the U.S. services sector accelerated in July, picking up from a three-year low as new orders surged to their highest level in five months, an industry report showed on Monday. US Airways, American Airlines gain EU approval for $11 billion merger BRUSSELS (Reuters) - US Airways and AMR Corp's American Airlines secured EU regulatory approval on Monday for their $11 billion merger after promising to surrender slots at Heathrow and Philadelphia airports. HSBC revenues sag, says may face $1.6 billion U.S. lawsuit hit LONDON (Reuters) - HSBC posted lower than expected earnings on Monday and said it might have to pay $1.6 billion in damages over a U.S. lawsuit, reviving concerns over legacy issues and growth prospects at Europe's biggest bank. No hint of credit tightening in Fed survey of bankers WASHINGTON (Reuters) - U.S. financial conditions remained favorable during the second quarter despite the spike in market interest rates, according to the latest Federal Reserve survey of bank senior loan officers. FINRA fines Oppenheimer $1.4 million over penny stocks, internal controls NEW YORK (Reuters) - Oppenheimer & Co has agreed to pay $1.425 million in fines to resolve charges that the financial services company sold unregistered penny stocks and had inadequate safeguards against money laundering, Wall Street's industry-funded watchdog said. Cadillac strategy chief suddenly steps down, GM says DETROIT (Reuters) - Don Butler, the head of global strategy for General Motors Co's luxury Cadillac brand, resigned on Monday about four months after he was assigned to boost the nameplate's international sales. Related Video A la carte pricing would benefit cable companies- Craig Moffett Tasting the €250,000 test-tube burger Related News Ackman's Pershing Square lost 2.2 percent in July: sources Focus Financial adds team with $400 million in assets A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend