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Shares in Time Warner closed down on reports that the US Department of Justice will sue AT&T to stop its takeover of the media giant.

Time Warner's stock finished down 1.1% at $87.71 while AT&T ended marginally higher at $34.64.

Both Reuters and Bloomberg, citing sources, claim that the Department of Justice will file a lawsuit later on Monday.

The Dow Jones Industrial Average closed 72.09 points higher at 23,430.33.

The S&P 500 finished 3.29 points up at 2,582.14 while the Nasdaq ended 7.92 points ahead at 6,790.71.

Oil prices fell with Brent crude down 0.9% at $62.15 a barrel and West Texas Intermediate off 0.6% at $56.36.