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Hedge funds managers who won big by betting that credit markets would slump say they are not seeing reasons to change their bets, despite a stabilizing stock market.
Stocks closed higher across the board as investors were encouraged by solid economic data and bid up technology and energy stocks. "We're very, very bullish because we think the economy is going to continue to be in a positive trajectory," said Tony Dwyer, equity market strategist at FTN Midwest Securities.
Wall Street investment strategists and money managers responding to a CNBC Trillion Dollar Snap Survey today are generally bullish on the stock market for the month of September. The survey also shows expectations for a Federal Reserve Fed Fund rate cut are much stronger today than they were just over two weeks ago.
September may traditionally be the worst month for stocks, but some market pros think now is the time to snap up some bargains.
Institutional investors still expect stocks to rise by between 5 percent and 10 percent by year end even as fears of a recession grow more prominent, according to a Citigroup client survey.
Nasdaq Chief Executive Bob Greifeld said Wednesday that shareholders in Nordic bourse operator OMX would benefit from a linkup with the U.S.-based exchange, enabling the combined company to expand its business with Russian and eastern European companies.
U.S. stock market Nasdaq said on Monday it plans to explore selling its 31 % stake in the London Stock Exchange.
Borse Dubai would look to expand exchange firm OMX organically and through acquisitions if its $4 billion bid succeeds, its head told Reuters on Monday, adding the deal made industrial sense.
Borse Dubai launched a $4 billion cash offer for Nordic exchange owner OMX on Friday, trumping an agreed deal with U.S. exchange Nasdaq, in a bid to create a group with global reach.
Hedge funds have acquired about 25% of OMX ahead of an expected takeover battle for the Nordic market operator between Nasdaq and Borse Dubai, the Financial Times reported.
The top Wall Street strategists and money managers responding to our CNBC Trillion Dollar Snap Survey remain bullish after Thursday's big decline in the stock market. Forty-six percent of those answering the survey said they see the drop as a buying opportunity, with another 43 percent calling it the beginning of a correction in a long-term bull market. None of those answering the survey said it's the beginning of a bear market.
Stocks suffer their worst weekly declines in more than four years as worries about credit and lending undermine investor confidence.
Q2 results are confirming the foreign growth story. Look at Halliburton. Halliburton reported killer earnings today; 68% of their revenues occur outside the U.S.Same with Merck: great earnings, has 40% of sales outside the U.S.
With the Dow closing at its milestone of 14,000 yesterday, the Nasdaq reaching 6 1/2-year closing highs, and the S&P soaring to record heights, investors anxiously await next week’s 8-Dow stocks and 168 S&P reports.
Shares of online travel agency Orbitz Worldwide fell 3 percent in their market debut Friday from a lowered initial offering price.
Even with the Dow's rapid climb to 14,000, many market pros think the stock rally isn't over. "We're only in the middle earnings reporting season, economic data continues to flow in a positive direction, the fact that we can overlook $75 oil and we can move higher is very telling," said Art Hogan, the chief market strategist at Jeffries and Company.
The Securities and Exchange Commission approved a plan to allow companies listed on the New York Stock Exchange to retain their three-letter ticker symbols should they transfer to rival Nasdaq Stock Market.
Sweden's government will review a proposed $3.7 billion takeover of Nordic bourses owner OMX by Nasdaq over worries companies could be forced to operate under U.S. stock market rules, an official said on Wednesday.
Stock futures are aiming at higher territory this morning after yesterday's rocky session. Asian markets were lower and Europe is mixed, but a round of merger activity has stock prices perking up on Wall Street. Existing home sales data will be a big focus this morning after yesterday's report of a surprising 16% jump in April new home sales.
The Nasdaq Stock Market agreed to buy Nordic stock exchange operator OMX for $3.67 billion Friday, as Nasdaq seeks to expand abroad following a series of rival stock market mergers.