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Market Update Analysis: 
Stocks Move Slightly Higher on Fresh Merger News
Author: Albena Toncheva
123jump.com
Last Update: 12:37 AM ET May 09 2005



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Stocks shifted slightly up Monday as investors' uncertainty over the economy and inflation was overpowered by some fresh merger news.

 
At midday, the Dow Jones industrial average gained 8.85, or 0.1 percent, to 10,354.25. The Nasdaq composite advanced 3.03, or 0.2 percent, to 1,970.38.The Standard & Poor's 500 index rose 3.95, or 0.3 percent, at 1,175.30.

Oil trades above the $51 per barrel level amid persistent worries about summer driving season gasoline demand. A barrel of light crude was up 19 cents at $51.15, on the New York Mercantile Exchange.

Bonds continued to decline Monday, with the yield on the benchmark 10-year Treasury note climbing to 4.279%.

COMEX gold fell 40 cents to $426.50 an ounce.

The dollar was down 0.2% against the euro at $1.2836, but up 0.5% versus the Japanese yen at 105.52 yen.

Overseas, Japan's Nikkei dropped 0.19%. Britain's FTSE 100 was down 0.17% in afternoon trading, Germany's DAX index slid 0.43%, and France's CAC-40 shed 0.33%.


Shares UP:

General Motors Corp. added 1.2%.
Cinergy Corp. climbed $2.26 to $42.64
E-Trade rose 65 cents to $12.58
Ameritrade surged $2.42, or 21.4%, to $13.73.


Shares DOWN:

Hewlett-Packard Co. was down 2.1%.
Duke's shares fell 1.5%.
More: Market Update Archive

 

 
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