Stocks Start the Week Off Mixed
U.S. stocks closed nearly flat after positive merger news was
countered by rising crude. News that BHP Billiton is reviewing a
plan to make an offer for Alcoa sent Alcoa stock higher by 3%.Â
Crude oil futures for July delivery closed up
1.5% to $69.05 per barrel after reports of a Nigerian strike
threat. Gold futures for August delivery rose 0.2% to $659.90 an ounce.Â
Around Europe, France’s CAC 40 Index fell 0.3% to 6,087.15,
Germany’s DAX Index rose fractionally to 8,036.12, and Britain’s
FTSE 100 Index lost 0.4% to 6,703.50.
Today’s
PowerRatings Heat Map is showing widespread price action that has led to lower
prices in the short term. The most weakness can be seen in
the Drug and Electronics sectors.Â
Click here to view all 33 Heat Map sectors. Â Â
Our
Daily Market Bias page has been updated with new indicators to
determine if there is a strong bias for the market to move higher
(or lower) the following day. These tables can help you to
pinpoint market conditions that have historically led to
significant up or down moves over the next 1 to 5 days.
Click here for more information on our Daily Market Bias
indicators.
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com