Daily Recap
A combination of merger deals and corporate earnings helped lift stocks higher today. AT&T reached a deal to acquire Time Warner, Rockwell Collins agreed to purchase B/E Aerospace, and TD Ameritrade agreed to buy Scottrade. M&A's almost always have a positive effect on the overall market because they suggest current share prices are undervalued.
All major U.S. indexes were in the green today, with the Industrials tacking on 77 points. The Nasdaq gained one percent while the S&P gained half a percent. But while the averages appeared strong, breath was more balanced, slightly in favor of advancing shares and issues. Markets overseas did similarly well, with most of Europe and Asia in the green.
Debt markets didn't have quite as good a day with Treasury prices selling off and yields rising. The 10-year note yield is back up to 1.76%. On the currency front, the dollar continued to appreciate with the dollar index up 0.1%.
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