How The Markets Are Holding Up Today

Shared between geopolitical turmoil (Ukraine, Iraq) and continuing mergers / acquisitions in the U.S. the stock market is pretending to hesitate before opting for its natural tendency to rise.

The Dow gained 0.03% yesterday, the S & P 500 0.1%, Nasdaq +0.24%, the Russell-2000 0.36%.

Traders have focused their attention on the ‘deal of the day’, ie the purchase for $ 42.9 billion, Covidien (+20.5%) Medtronic (-1.1%).

If the logic of a complementarity range of medical equipment is not worth discussing, the relocation of the headquarters of the new group to Ireland is something to thrill investors. Because of the ‘optimization’ of the tax situation (the politically correct term for tax evasion).

The stock market certainly did not want to show signs of nervousness on the eve of options expiry, but also the beginning of the meeting of the EDF (which ends Wednesday).

Regarding macro-economic data, it’s not made a difference – ‘Empire State’ index stood at 19.3 this month, roughly flat compared to May. Economists expected a decline in the index around 15.

Industrial production in the United States rebounded 0.6% in May (against -0.3% in April), the recovery of mining more than offset the decline in the utilities sector.

The stars of the day, in addition to Covidien, were Tesla +8.8%, Micron 2.3% and Tripadvisors +2%.

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Pete Southern

About Pete Southern

Pete is an active investor with knowledge of all sectors but his first love are IPO's. A failed day trader who now understands research. A love of economics and writing seen Pete begin to publish content for various finance blogs. Our main editor and collator of contributions, he is your point of contact via editorial at

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