Wall Street is hoping its last trading day before Memorial Day weekend will be memorable in a good way, in contrast to yesterday, when the market slid over interest-rate jitters. Stock futures are pointing up as the focus shifts from economic news back to mergers and acquisitions, thanks to the determination of a U.S. stock exchange to expand in Europe, no matter what.
Months after losing out on a bid for the London Stock Exchange, Nasdaq has announced plans to buy Nordic markets owner OMX. But the economic news isn't going to stop, and existing-home sales are coming shortly. Remember, it was the jump in new-home sales that helped send the stock market into a tizzy yesterday.
The bond market is closing early, and U.S. Treasuries are down slightly. The dollar is up against the yen and isn't far from a six-week high against the euro.All you drivers out there are all too aware of high energy costs, but ... London Brent crude oil is up near $71 a barrel on a strike in Nigeria and continued tension over Iran's nuclear program.
And speaking of energy, global power company AES sees earnings from continuing operations rising 14 percent to 20 percent annually through 2011. Coca-Cola is going to the M&A well with plans to buy enhanced water maker Glaceau.
Lisa Von Ahn - Editor