(As of 7:20 am PST)
US stocks are higher this morning adding to positive gains seen last
week. Easing tensions between Russia and
the Ukraine as well as a successful weekend push by Kurdish forces against the
Islamic State in Northern Iraq have helped markets open higher to start the
week. In US corporate news, Dollar
General and Family Dollar Stores are making headlines after Dollar General
announced an offer to buy Family Dollar Stores in an all-cash deal. Shares of
both companies are higher on the deal. Economic
data is light today, however a report on homebuilder confidence showed
confidence extending to the highest it’s been in seven months. Data will pick up as the week wears on with
reports on housing starts, building permits, consumer prices and existing home
sales due out. Minutes of the most
recent Federal Open Market Committee are scheduled to be released Wednesday. Fed Chairwoman Janet Yellen will also give a
speech later in the week at the Fed’s annual meeting in Jackson Hole, Wyoming.
After a nice run the past week and a half we’ll see if the market can sustain
its momentum through the rest of the week.
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