(As of 7:20 AM PST - Tuesday, 2/5/2013)
Stocks are rebounding this
morning after recording the worst single day losses of the year yesterday. News is light today with the most notable
economic report, the ISM non-manufacturing gauge, signaling slowing growth in
the services sector for January. The
slowdown in growth was better than economists estimates however and the market
for the large part ignored it. In
company news, high-tech company Dell Inc. will end public trading after an
agreement was reached for the company to be purchased by founder and chief
executive Michael Dell and a private equity firm. The deal will pay shareholders cash valued at
a 25% premium over Dell’s closing price in mid January. Around the globe, stocks rebounded in Europe
as Euro-zone PMI data improved and Asian markets declined following yesterday’s
Wall Street selloff over political tensions in Europe. Gold is flat and oil higher. Interest rates are slightly higher and
volatility is back down.
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