Dow Heads Back Towards 14,000 Territory
Stocks rose on Monday morning on new merger and acquisition
activity. Today’s M&A sectors included oil drilling, equipment
rental, and technology. Better-than-expected earnings from Merck
and Schering-Plough also helped the indices to rack up gains.
Crude oil futures for August delivery fell
1.6% to $74.58 a barrel after reports came out that OPEC may
increase output to meet global demands. Gold futures for
August delivery fell 0.3% to $682.50 an ounce.
Around Asia, Shanghai’s Composite index
added 3.8% to 4,213.36, Hong Kong’s Hang Seng index rose 0.3% to
23,365.56, and Tokyo’s Nikkei index fell 1% to 17,963.64.
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com
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