Monday Morning Musings
The markets are bouncing in early trading on some positive financial news. The WSJ reported that Wamu (WM) is close to getting a $5 billion capital infusion from private-equity firm TPG. This would be great news for that company, and banks and brokers are rallying on the news.
Also, Microsoft (MSFT) said Yahoo (YHOO) has 3 weeks to accept its offer. With no other bidders around, I think YHOO mgt. should suck it up and accept that it is likely the best offer they are going to see.
The dollar is rallying mostly against the Yen, and a little vs. the Euro. Surprisingly, despite the strong dollar, oil and gold are both rallying also. The 10-year yield is up a bit to 3.54%. And Asian markets were higher across the board overnight.
The strongest groups this morning are the energy stocks, including oil services stocks, agriculture and chemical stocks. Retail stocks are lagging.
posted by J. Kahn @ 7:50 AM
2 comments
2 Comments:
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