Markets are up this morning on
global economic optimism. There is no
significant data coming out today, however there is some activity relating to
mergers that might be influencing the market.
An article over the weekend speculated that merger and acquisition
activity might provide the boost needed to propel stock indexes to new highs. The dollar is mixed against other currencies
but up slightly overall. Gold is up
moderately and oil is holding on to slight gains. Natural gas maintains its rally mode with the
threat of more cold weather approaching the Northeast. The US Treasury is selling $109 Billion in
debt today, so it will be a good test in investor appetite for US bonds,
especially in light of the continuing taper by the Federal Reserve. A lack of data today could limit gains and a
bout of profit taking should not come as a surprise in light of the significant
gains we have seen in February.
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