Stocks moved sharply higher to start off the week after new merger
and acquisition activity. Today's M&A deals took place in a wide
variety of market sectors. These included oil drilling, equipment
rental, and technology. Better-than-expected earnings from Merck
and Schering-Plough also helped the indices move higher.
Crude oil futures for August delivery fell
1.2% to $74.89 a barrel after reports came out that OPEC may
increase output to meet global demands. Gold futures for
August delivery fell 0.5% to $681.50 an ounce.
Around Europe, Germany's DAX index rose 0.9% to 7,944.21, France's
CAC 40 index gained 0.9% to 6,009.16, and Britain's FTSE 100 index
added 0.6% to 6,624.40.
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Market Snapshot |
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Volume |
3,014,653,000 |
2,024,531,000 |
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Strongest/Weakest Sectors |
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Strongest Sectors |
Weakest Sectors |
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Nasdaq Telecom Index (IXTCX) |
Natural Gas Index (XNG) |
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Pharmaceuticals Index (DRG) |
CBOE Internet Sector Index (INX) |
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Computer Technology Index (XCI) |
S&P Retail Index (RLX) |
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Economic
News |
| No economic reports released
today. |
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com
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