Peter Schacknow, Senior Producer, CNBC Breaking News DeskMonday is likely to get off to a bullish start, after Germany's Angela Merkel and France's Nicolas Sarkozy vowed that a comprehensive response to the European debt crisis would be finalized by month's end.
That - combined with a rescue plan for Franco-Belgian lender Dexia - is improving the mood of investors by a considerable margin.
Wall Street is coming off a relatively calm day of modest losses Friday, with a streak of nine consecutive triple-digit moves by the Dow broken during that session.
The Dow had a second straight weekly gain for the first time since early July.
Today's action may be lighter than usual, with many businesses and the bond market closed for the Columbus Day holiday, and no government economic data on the agenda.
The earnings calendar is similarly blank, though earnings season officially gets underway tomorrow with the release of Dow component Alcoa's (AA) earnings.
AT&T (T) could be a stock to watch, after the company said it had 200,000 pre-orders for the newest iPhone in the first 12 hours it was available.
The company called it the most successful iPhone launch it's ever had.
We'll also watch shares of Sprint (S), which also says it had a successful iPhone launch, but whose stock was extremely volatile Friday as the company was holding an analyst meeting.
Complete Production Services (CPX) is on our watch list as well today, after Superior Energy Services (SPN) agreed to buy it for $2.7 billion in cash and stock, representing a 61 percent premium to Friday's closing price.
Yahoo (YHOO) remains in the spotlight today as well, on reports that CEO Jerry Yang is eyeing a deal with private equity firms to take the company private.
Investors will be keeping an eye on Washington this week, as Congress is expected to take up both the controversial China currency bill - intended to pressure Beijing to allow its currency to rise - and three free trade bills.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.