Stock Market Update

[BRIEFING.COM] The major averages continue to trade in a narrow range with modest losses. 

Corporate news flow is once again light given the holiday-abbreviated week. Softbank (SFTBY 57.08, +0.32, +0.56%) is modestly higher today after entering into a definitive agreement to acquire DigitalBridge (DBRG 15.28, +1.36, +9.73%) for a total enterprise value of approximately $4.0 billion. Under the terms of the agreement, SoftBank Group will indirectly acquire all the outstanding common stock of DigitalBridge for $16.00 per share in cash.