Stocks boasted a two year high at close on Friday. Investors report positive
economic and corporate news set the stage for advancement in the market. At open
on Monday the market continues to drive higher and investors are focused on
corporate deals. Multiple Fortune 500 companies , including General Electric,
Thermo Fisher Scientific and Dell have extended offers or announced acquisitions
that have pushed the companies into the spotlight. Other companies, such as
Fedex, observe share increases as the busiest time of year unfolds. Investors
are also keeping close tabs on the proposed bill to extend the Bush era tax
cuts. It appears that continued resistance from Democrats has threatened the
deal. Reports indicate there may be enough conservative Democrats to get the
deal passed but the delay has many discouraged. There are no major reports
scheduled on the economic calendar for today but reports on unemployment,
consumer prices and home construction are due out later this week. The Fed is
expected to release a policy statement on Tuesday. At mid day the three major
indexes are in the green. DJIA is up 35.61 points or .31% to 11,445.93. Nasdaq
rose 3.67 points or 0.13% to 2,641.05. S&P 500 increased 4.14 points or 0.34% to
1,244.67 The Treasuries 10-year yield is up 0.03 to 3.33%. Oil is up 0.71 to
$89.07 a barrel. Gold increased 13.30 to $1398.20 an ounce. The dollar is down
0.0091 to the Euro at $1.34. Author: Pamela Frost
No comments:
Post a Comment