US Markets Set For Rebound After Big Drop

By Staff,

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US stocks were pointing to a higher open Tuesday after having recorded drops of over 2% Monday. At 10.00 a.m., a report on U.S. factory orders in December is expected to show a 1.8% decline following a 1.8% increase in November.

Also today, Richmond Fed President Jeffrey Lacker and Chicago Fed President Charles Evans will speak on economic outlook and monetary policy. Both have expressed support for the current plan to continue tapering the Federal Reserve's asset purchases. Lacker is due to speak at 08:30 a.m. and Evans will speak at 12:30 p.m. Neither are voters on the Fed's open market committee.

In equities, the provider of specialty semiconductor materials ATMI ( ATMI ) soared 25% after Entegris ( ENTG ) agreed to buy the company for $1.15 billion or $34.00 per share in cash, a 26.3% premium to the closing price on Feb. 3. ENTG was higher nearly 9% before the market open. Meanwhile, luxury lifestyle clothing and accessories company Michael Kors ( KORS ) jumped 19% after fiscal Q3 earnings and guidance for Q4 exceeded analyst expectations.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: ATMI , ENTG , KORS

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