The markets traded lower during the midday with the Dow losing 19 points to 22,755. Nasdaq slipped 2 points to 6,582.
Sprint and T-Mobile US are finalizing the details of an anticipated merger. The two wireless carriers are completing their due diligence in order to set an exchange ratio and discussing potential members of a new combined executive management team. An announcement is expected at the end of the month.
Tesla chief executive Elon Musk has offered to work with Puerto Rico to provide electricity to its 3.4 million residents who lost power during Hurricane Maria. Two weeks after the devastating hurricane, more than 90% of Puerto Ricans still have no power. Tesla's SolarCity unit can build solar energy grids with batteries, solar panels and solar roof tiles.
AOL Instant Messenger will be taken offline on December 15 after 20 years of connecting its users. The desktop instant messaging service was popular in the late 1990's and 2000's but never made the transition to smartphones as people began using social networks such as Facebook, messaging apps like Snapchat and texting. The demise of AIM was announced on Twitter and Tumblr.
In the broad market, declining issues outpaced advancers by a margin of 2 to 1 on the NYSE and by nearly 4 to 3 on Nasdaq. The broader S&P 500 lost 5 points to 2,546. Bitcoin gained $18 to $4,343.
