(As of 7:20 am PST)
US markets moved higher at the open Tuesday adding to
gains in the previous session. The economic data calendar is light today with
investors focused on merger and acquisition news in early trading. Shares of
FedEx jumped 3% after announcing it would buy Dutch parcel-delivery company,
TNT Express NV for roughly $4.8 billion expanding its footprint across Europe.
European markets are firmly higher while Asian stocks closed higher for the day
with the Shanghai Composite leading the way with a 2.5% gain. Yesterday’s gains
on Wall Street came as a reaction to Friday’s disappointing jobs report which showed
the private sector added only 126,000 jobs in February. The lackluster data has
investors speculating that the Fed will push their first rate hike back to at
least the second half of 2015, with some making calls for a 2016 policy move.
Commodities are lower after yesterday’s rally, while the US dollar is higher
and interest rates are flat.
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