Stocks rebounded to end the day higher on Monday as investors shrugged off trade tensions between the U.S., China and other nations. The Dow Jones Industrial Average ended up 34 points, or 0.14% to 24,305, the S&P 500 moved up 0.3% and the Nasdaq was up 0.76%
Everybody's working for... Wednesday. Though stocks closed higher on Monday, selling was the trend for much of the day. It is likely that the way the Independence Day holiday falls this week is having a negative impact on trading, wrote Real Money's James "Rev Shark" Deporre. The market has a half day of trading on Tuesday and closes at 1 p.m. ET before the holiday on July 4. "It is likely that once the bounce action fizzled out this morning many traders decided it was a good time to call it a day and head for the exits," Deporre wrote. adding that there are very few short-term news catalysts that are likely to excite buyers. Expect selling and light trading into the holiday, which could present buying opportunities for some savvy traders.
As Michael Dell takes his enterprise technology outfit back into the public markets, shareholders of VMware Inc. (VMW) can breathe a sigh of relief. Though VMware is providing Dell Technologies Inc. with $9 billion to fund a cash-and-stock exchange of shares, the publicly traded subsidiary will not buy its parent through a highly leveraged reverse merger as investors feared earlier this year. "I believe there was some investor uncertainty regarding VMware and this should answer most of the questions," Patrick Moorhead of Moor Insights & Strategy told The Deal's Chris Nolter this morning. Dell will swap shares of the tracking stock representing its stake in VMware for $109 in cash or 1.3665 shares of Dell's class C stock. Real Money's Eric Jhonsa weighs in on whether Dell is worth a trade once it hits the NYSE later this year.
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