ETFs End Flat After Dubai Bump

Stocks rose slightly after Dubai received a $10 billion bailout from neighboring Abu Dhabi, but traders found little reason to seize momentum. Major indexes and most exchange-traded funds were lackluster ahead of the Federal Reserve s Open Markets Committee meeting this week.

The Dow ended up 30 points at 10501. The S&P 500 rose 8 to 1114, and the Nasdaq climbed 22 to 2212.

Abu Dhabi's bailout included $4.1 billion to repay debt held by Dubai World's property unit, Nakheel, and additional funds to finance the conglomerate through April 2010.

In corporate news, Exxon Mobil announced a $41 billion all-stock deal to buy XTO Energy. Shares of Exxon fell, while XTO Energy's stock price rose sharply.

In finance, Citigroup announced it had reached a deal to repay $20 billion in Troubled Asset Relief Program, or TARP, funds by issuing $17 billion of common stock and $3.5 billion of tangible equity units.

In tech, Google will begin selling its own phone, called the Nexus One, as soon as next year, The Wall Street Journal reported.

The Fed's Open Market Committee is scheduled to meet this week and announce its policy decision Wednesday afternoon. Rates are expected to remain unchanged.

Winners

The First Trust ISE-Revere Natural Gas Index fund picked up 5.3% as gas prices rose. An energy rally also boosted shares of the SPDR S&P Oil & Gas Exploration & Production fund, which rose 4.2%.

Losers

On a broad daily rally, most ETFs were flat or picked up gains. The Short S&P 500 ProShares fund dropped 0.6%. The iShares Barclays 1-3 Year Treasury Bond fund shed 0.1%.

Tuesday s Notebook

Earnings and Conference Calls

AAR, ADDvantage Technologies Group, Adobe Systems, ARI Network Services, Best Buy, Dave & Buster's, Emcore, FactSet Research Systems, Goldis Berhad, Rentech, Synergetics USA, Transcontinental, WPCS International

Economic Indicators

Tuesday
FOMC Meeting Begins
7:45 a.m. ICSC-Goldman Store Sales
8:30 a.m. Producer Price Index
8:30 a.m. Empire State Manufacturing Survey
8:55 a.m. Redbook
9:00 a.m. Treasury International Capital
9:15 a.m. Industrial Production
1:00 p.m. Housing Market Index

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