Stocks Higher on Deal News
The major indices moved higher in the morning
session as stocks got a boost from continued M&A activity. The
higher than expected consumer confidence numbers also helped to
lift stocks.
June crude futures fell 2.4% to $63.21 per barrel
in early trading.Â
June gold futures, which usually trade in tandem with the Euro, rose 0.2% to $663 an ounce
as the Euro moved higher.
Around Asia, Shanghai’s Composite
Index rose 1.5% to 4,334.92, Hong Kong’s Hang Seng fell 0.3% to
20,469.59, and Tokyo’s Nikkei Index rose 0.5% to 17,672.56.
Today’s
PowerRatings Heat Map looks slightly bearish to neutral and it will be
interesting to see if we continue to see a pullback in the
markets.
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