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Trend lines for the major market index composites ended last week skewed in a positive direction. Indices closed out in the green on the last session of trading in the U.S. and this momentum carried through the weekend. Prior to opening bell this morning, stock market futures tracking revealed that the major market indices were posting green and that stocks were positioned for a higher open. The market surged early this morning with the news that AT&T planned to acquire T-mobile for $39 billion. Some analysts report that the purchase will prove profitable for Apple as the iPhone and iPad will be accessible to a wider customer base when they officially become part of AT&T network. Investors will once again be looking to developments in Japan and in Libya throughout the day as they position themselves in the market. Encouraging news is reported from Japan as engineers are able to make progress cooling nuclear reactors that overheated as a result of the devastating earthquake and tsunami that hit March 11th. With a potential nuclear crisis diverted, attention has turned to the Middle East as an airstrike launched by a coalition including the U.S. and allies has focused on Libyan military targets as well as Moammar Gadhafi’s compound. Oil prices jumped following the attack and continue to be monitored closely as new developments are reported. Approaching mid day the major market indexes continue to trend in the green. The Dow gained 183.45 points or 1.55% to 12041.97. The Nasdaq increased 50.25 points or 1.90% to 2693.84. The S&P 500 was up 19.76 points or 1.54% to 1299.01. Oil increased 0.97 to $102.04 a barrel. The Treasuries 10 year yield gained 0.04 to 3.31%. The U.S. dollar decreased by 0.0011 to the Euro at $1.42 Author: Pamela Frost
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