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Tech and Health-Care Stocks Led Today's Rally After a Sluggish Overnight
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

US stocks started the day in the negative but continued to reflect Friday's strength by rallying early and finishing the day near their highs. The overnight weakness was attributed to reports that Russia was moving powerful antiship missile batteries near the Baltic Sea, even though it indicated it was withdrawing troops from the Ukraine border. Equity trading volumes in the US were at their lowest levels of the year for a nonholiday session.

The S&P 500 (INDEXSP:.INX) gained 0.40% in today's session. Tech and health-care stocks led while utilities severely lagged, despite a decline in interest rates.

Italian stocks were the worst performer in Europe today. Newly elected Prime Minister Matteo Renzi's government faces a vote of confidence after economic growth has continued to slow and a new corruption scandal has arisen in Milan. In addition, volatility has increased in front of the EU's Parliament elections this Sunday, where broader voting might cause Renzi's time in office to be short lived.

Merger mania consumed the top news stories of the day. AT&T (NYSE:T) finalized its deal of DirecTV (NYSE:DTV) for $48 billion, but worries over antitrust laws kept the latter's stock price well below the deal price of $95. AstraZeneca (LON:AZN) turned down a renewed bid from Pfizer (NYSE:PFE), which raised its offer price to 55 pounds from 53.5 pounds. AstraZeneca believes the bid still undervalues the company and it would require a bid of at least 58.5 pounds to be competitive. Lastly, Dealreporter reported that Verizon (NYSE:VZ) had held talks with Dish Network (NASDAQ:DISH), which may be an obvious conclusion after the DirecTV/AT&T deal.

Tomorrow's Financial Outlook

There are no major economic reports scheduled in the US tomorrow. Federal Reserve Presidents Plosser and Dudley, both FOMC voters this year, are scheduled to give speeches.

The only economic reports of note tonight are the German producer price index and UK consumer and producer price indexes. With regards to the UK consumer inflation, the Bank of England anticipates that inflation will begin trending higher, even though it has been in a downtrend for the past 18 months.

Only a few companies are scheduled to report earnings tomorrow. Notables include Dick's Sporting Goods (NYSE:DKS), Home Depot (NYSE:HD), Medtronic (NYSE:MDT), Staples (NASDAQ:SPLS), TJX (NYSE:TJX), Analog Devices (NASDAQ:ADI), Intuit (NASDAQ:INTU), and Salesforce.com (NYSE:CRM).


Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Tech and Health-Care Stocks Led Today's Rally After a Sluggish Overnight
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

US stocks started the day in the negative but continued to reflect Friday's strength by rallying early and finishing the day near their highs. The overnight weakness was attributed to reports that Russia was moving powerful antiship missile batteries near the Baltic Sea, even though it indicated it was withdrawing troops from the Ukraine border. Equity trading volumes in the US were at their lowest levels of the year for a nonholiday session.

The S&P 500 (INDEXSP:.INX) gained 0.40% in today's session. Tech and health-care stocks led while utilities severely lagged, despite a decline in interest rates.

Italian stocks were the worst performer in Europe today. Newly elected Prime Minister Matteo Renzi's government faces a vote of confidence after economic growth has continued to slow and a new corruption scandal has arisen in Milan. In addition, volatility has increased in front of the EU's Parliament elections this Sunday, where broader voting might cause Renzi's time in office to be short lived.

Merger mania consumed the top news stories of the day. AT&T (NYSE:T) finalized its deal of DirecTV (NYSE:DTV) for $48 billion, but worries over antitrust laws kept the latter's stock price well below the deal price of $95. AstraZeneca (LON:AZN) turned down a renewed bid from Pfizer (NYSE:PFE), which raised its offer price to 55 pounds from 53.5 pounds. AstraZeneca believes the bid still undervalues the company and it would require a bid of at least 58.5 pounds to be competitive. Lastly, Dealreporter reported that Verizon (NYSE:VZ) had held talks with Dish Network (NASDAQ:DISH), which may be an obvious conclusion after the DirecTV/AT&T deal.

Tomorrow's Financial Outlook

There are no major economic reports scheduled in the US tomorrow. Federal Reserve Presidents Plosser and Dudley, both FOMC voters this year, are scheduled to give speeches.

The only economic reports of note tonight are the German producer price index and UK consumer and producer price indexes. With regards to the UK consumer inflation, the Bank of England anticipates that inflation will begin trending higher, even though it has been in a downtrend for the past 18 months.

Only a few companies are scheduled to report earnings tomorrow. Notables include Dick's Sporting Goods (NYSE:DKS), Home Depot (NYSE:HD), Medtronic (NYSE:MDT), Staples (NASDAQ:SPLS), TJX (NYSE:TJX), Analog Devices (NASDAQ:ADI), Intuit (NASDAQ:INTU), and Salesforce.com (NYSE:CRM).


Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Minyanville Staff
Daily Recap
Tech and Health-Care Stocks Led Today's Rally After a Sluggish Overnight
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

US stocks started the day in the negative but continued to reflect Friday's strength by rallying early and finishing the day near their highs. The overnight weakness was attributed to reports that Russia was moving powerful antiship missile batteries near the Baltic Sea, even though it indicated it was withdrawing troops from the Ukraine border. Equity trading volumes in the US were at their lowest levels of the year for a nonholiday session.

The S&P 500 (INDEXSP:.INX) gained 0.40% in today's session. Tech and health-care stocks led while utilities severely lagged, despite a decline in interest rates.

Italian stocks were the worst performer in Europe today. Newly elected Prime Minister Matteo Renzi's government faces a vote of confidence after economic growth has continued to slow and a new corruption scandal has arisen in Milan. In addition, volatility has increased in front of the EU's Parliament elections this Sunday, where broader voting might cause Renzi's time in office to be short lived.

Merger mania consumed the top news stories of the day. AT&T (NYSE:T) finalized its deal of DirecTV (NYSE:DTV) for $48 billion, but worries over antitrust laws kept the latter's stock price well below the deal price of $95. AstraZeneca (LON:AZN) turned down a renewed bid from Pfizer (NYSE:PFE), which raised its offer price to 55 pounds from 53.5 pounds. AstraZeneca believes the bid still undervalues the company and it would require a bid of at least 58.5 pounds to be competitive. Lastly, Dealreporter reported that Verizon (NYSE:VZ) had held talks with Dish Network (NASDAQ:DISH), which may be an obvious conclusion after the DirecTV/AT&T deal.

Tomorrow's Financial Outlook

There are no major economic reports scheduled in the US tomorrow. Federal Reserve Presidents Plosser and Dudley, both FOMC voters this year, are scheduled to give speeches.

The only economic reports of note tonight are the German producer price index and UK consumer and producer price indexes. With regards to the UK consumer inflation, the Bank of England anticipates that inflation will begin trending higher, even though it has been in a downtrend for the past 18 months.

Only a few companies are scheduled to report earnings tomorrow. Notables include Dick's Sporting Goods (NYSE:DKS), Home Depot (NYSE:HD), Medtronic (NYSE:MDT), Staples (NASDAQ:SPLS), TJX (NYSE:TJX), Analog Devices (NASDAQ:ADI), Intuit (NASDAQ:INTU), and Salesforce.com (NYSE:CRM).


Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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