Tuesday, April 24, 2007
A Rare Move Down
There was good news yesterday on the merger front but traders decided to take some profits instead. The Dow gave up 42.53 points to close at 12,919.40. The SPX fell 3.42 points to 1,480.93.
Barclays agreed to buy ABN Ambro and Astra Zenca will purchase MedImmune in a series of huge deals but this did little to raise the markets.
Oil saw prices rise again over $65 a barrel on oil tensions in Nigeria.
Earnings will be the focus for the rest of the week. 13,000 is the big number to break on the Dow. With several big companies set to report this week, a break of this level could occur. Watch out for Microsoft's results on Thursday after the bell.
As for our play, let see what the this week brings and we can look to maybe place something at the end of the week/early next week.
Until next time.
Barclays agreed to buy ABN Ambro and Astra Zenca will purchase MedImmune in a series of huge deals but this did little to raise the markets.
Oil saw prices rise again over $65 a barrel on oil tensions in Nigeria.
Earnings will be the focus for the rest of the week. 13,000 is the big number to break on the Dow. With several big companies set to report this week, a break of this level could occur. Watch out for Microsoft's results on Thursday after the bell.
As for our play, let see what the this week brings and we can look to maybe place something at the end of the week/early next week.
Until next time.
# posted by Paul @ 6:29 AM 
