Up strongly overnight.
News:
AT&T to buy Time Warner, TD Ameritrade to buy Scottrade, and Rockwell Collins to buy B/E Aerospace. And it's only Monday.
Hilarious take from Zero Hedge:
Elsewhere, it's all about anarchists, hackers, and libertarians. In Iceland, that is. The Pirate Party, a alternative political party, has become a contender there. The mood shift continues.
And inclusive, positive mood continues right along with it. Bob Dylan, once a counterculture symbol of civil unrest, was just awarded the Nobel Prize in Literature, the first-ever songwriter to do so.
It might be worth noting that Dylan came to fame toward the end of a long bull market before cementing his counterculture appeal during a long bear market. In this context, Dylan's Nobel Prize may come to represent a book end.
FX:
Odd day thus far. Mixed USD strength and weakness. EUR stronger with stronger Eurozone PMI readings.
Treasuries:
Prices showing some follow though higher from Friday, yet could set up near-term weakness if volume doesn't materialize.
Energy:
WTI crude looks ready to attempt a bounce after correcting from recent highs. NG has followed through to more downside however.
Metals:
Gold perked up in the last hour to join silver, platinum, palladium, and even copper in the green.
S&P Outlook:
Perhaps the 2163.66 gap may not be reached yet, but it seems the market may want to try at least the 2149.19 swing point. Should internals weaken, price could create an interesting bearish rising wedge targeting the lower gap at 2126.50.
Still feels like very murky water to be wading around in even though Europe and Asia found reason to buy. Sea Of Green there.
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