Stocks Flat Despite WaMu Deal

Stocks were flat today after worries about coming first-quarter earnings reports kept a financial stocks rally from taking hold, MarketWatch reports. The Dow rose 3.01 to 12,612.42; the S&P 500 rose 2.14 to 1,372.54; and the Nasdaq was off 6.15 to close at 2,364.83.

Financials rallied after a group of investors led by TPG announced they were considering a $5 billion investment in Washington Mutual, the largest American savings and loan. WaMu is desperate for cash after losing $3 billion in mortgage-related writedowns. Though WaMu stock surged, investors stayed cautious, with a nervous eye toward Alcoa's Q1 earnings report, due after today's close. (More Dow Jones stories.)