Author: 123jump.com Staff
123jump.com
Last Update: 4:30 PM EDT May 21 2007

Merger news in New York and Europe lifted stocks. S&P 500 briefly crossed its earlier peak reached in March 2000. June futures of crude price jumped more than 2% or $1.33 on expected summar demand for gasoline. Energy and tech stocks drove market averages higher at the opening but failed to keep the momentum near the close. Brazil and Mexico advanced. Two separate mergers were reported in Italian banking sector. Chinese stocks continued to rally. Canadian dollar rose to a 20-year high.