Credit: Sorting through last week and overnight's trading seems like a rerun TV show we've seen before, as traders sort through the euro zone issues, particularly Spain and Italy. Asian markets closed down, European markets are taking it in the chin while U.S. futures are suggesting another lower open.
Even though the Dow and S&P 500 indexes broke the weekly slide to close up slightly on the week, the NASDAQ wasn't so lucky with Apple ( AAPL , quote ) pulling the tech index down.
Crude oil, gold, silver and copper are all down in early trading as the commodity market looks to the global economy possibly slowing, the French elections bringing a shift in power to the socialist party, and of course Spain, Italy and Greece's continuing woes.
It's likely the euro zone headlines will push around the U.S. as well as global markets with no major economic announcements today, however; the remainder of the week is packed full of economic and earnings announcements.
On the international front, Vodafone ( VOD , quote ) the UK firm with operations in regions of Europe, Africa, Asia Pacific, the Middle East, and an investment in Verizon Wireless in the United States; has acquired UK multinational Cable & Wireless Worldwide in a $1.9 billion dollar deal that will give Vodafone a fixed-line network to complement its wireless business.
Ardea Biosciences ( RDEA , quote ), a San Diego-based biotech company, is being bought by the U.K.'s AstraZeneca ( AZN,quote ) for $1.26 billion. The deal is worth $32 per share or a 54% premium over Friday's close.
Wal-Mart's ( WMT , quote ) Mexican subsidiary is under investigation for bribery allegations. The NYSE's ARCA order queue is showing pressure on the name but it's still early. WMT did see a 2.68% drop in stock price in post market activity on Friday after being up by 1.13% at the close.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
