Traders see a positive tone to the market this morning.
"It looks like a steady open," says Larry Wachtel of
. "They should follow through somewhat from Friday."
But through the day stocks could face some pressure on the upside from nervousness about this week's slew of economic data, beginning with April
Tuesday morning. And, of course, next week's FOMC meeting looms large.
futures, up 0.50 and well above fair value, are indicating a strong open for the stock market today. The 30-year Treasury bond is flat at 96 21/32, with the yield at 6.89%.
Whoppers and Stout.
Smith's Food & Drug Centers
in a stock deal worth $2 billion dollars. Smith's shareholders will receive 1.05 shares of Fred Meyer stock for each share of Smith stock.
reported first-quarter earnings of 32 cents a share, in line with
The dollar's woes weren't enough to keep Japanese stocks down today. Surprisingly, export-oriented stocks, led by
, climbed higher -- does the Japanese stock market know something about dollar/yen valuations that
The Wall Street Journal
climbed 340.73 to close at 20,143.51.
Hong Kong stocks hit another record today, once again with chatter that mainland companies are eyeing stakes in
climbed 57.00 to close at 13,987.80.
German stocks don't seem to be having too many problems with dollar difficulties, either. The
closed up 12.96 at 3575.37.
The Grand Met/Guinness merger hasn't added much froth to Britain's stock market. The
is flat, up 3.30 at 4634.20.