Markets Advance on New Takeover Deals
U.S. stocks rose slightly Thursday morning after
more takeover news was announced, but the move was held back by a
weak GDP report from the Commerce Department.
June crude futures are fractionally
higher this morning to $63.58 per barrel
after the EIA report showed an unexpected decline in U.S.
inventories. Gold
futures for August delivery are higher by 0.8% to $664.60 an ounce.
Around Asia, stocks rebounded with
Hong Kong’s Hang Seng adding 1.7% to 20,634.47, Shanghai’s
Composite moving higher by 1.4% to 4,109.65, and Tokyo’s Nikkei
gaining 1.6% to 17,875.75.
Today’s
PowerRatings Heat Map has become more bearish after yesterday’s runup. The
weakest looking sectors are currently Computer Software, Drugs,
and Specialty Retail.
Click here for a free trial to see all
33 market sectors.
Click here to see our new list of indicators that includes
Gaps Down 5% or More,
2-Period RSI Below 2,
Stocks Up 10% or More. Historically proven edges make
these a great place to start making a watch list.Â
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com