Stocks Higher Today as At&t takes over T-Mobile.

-

US stock futures are higher this morning, after AT&T (NYSE: T) announced its plans to buy T-Mobile USA for around $39 billion. Futures for the Dow Jones Industrial Average surged 115 points to 11,914.00, while those for the S&P 500 stock index climbed 15.60 points to 1,289.80. Futures for the Nasdaq 100 index surged 27 points to 2,248.50.

US stocks closed higher on Friday, with the Dow Jones industrial average gaining 83.93 points to 11,858.52, the Standard & Poor's 500 Index rising 5.49 points to 1,279.21 and the Nasdaq Composite Index climbing 7.62 points to 2,643.67.

Data on February existing home sales will be released at 10 a.m. ET.

AT&T Inc signed an agreement with Deutsche Telekom AG (OTC: DTEGY) to buy T-Mobile USA for around $39 billion in cash and stock.

American International Group Inc (NYSE: AIG) projects $1billion of catastrophe losses in the first quarter. The sum includes $700 million for the earthquake and tsunami in Japan.

Wall Street expects Tiffany & Co (NYSE: TIF) to report its Q4 earnings at $1.39 per share on revenue of $1.10 billion.

Most Asian markets ended higher, with Australia's S&P/ASX 200 rising 0.39% and China's Shanghai Composite gaining 0.08%. Hong Kong's Hang Seng index rose 1.73% and India's Sensex dropped 24.24 points. Japan reported that power cables have been connected to all six nuclear reactors at its Fukushima Daiichi power plant.

Positive sentiment ruled the European markets today. While STOXX Europe 600 Index has gained 1.57%, London's FTSE 100 Index moved up 1.12%.

Crude oil futures rose $1.98 to $103.05 per barrel on the New York Mercantile Exchange (NYMEX) in the Globex electronic session. Western powers launched air strikes against the forces of Gadhafi.

The dollar rose 0.7% to ¥81.168 against the yen. However, the euro traded at $1.4163 versus the dollar.



Comments

Post a Comment

Popular posts from this blog

Employee Business Expenses

-
If you itemize deductions and are an employee, you may be able to deduct certain work-related expenses. The IRS has put together the following facts to help you determine which expenses may be deducted as an employee business expense. Expenses that qualify for an itemized deduction include: Business travel away from home Business use of car Business meals and entertainment Travel Use of your home Education Supplies Tools Miscellaneous expenses You must keep records to prove the business expenses you deduct. For general information on recordkeeping, see IRS Publication 552, Recordkeeping for Individuals available on the IRS website , http://www.irs.gov , or by calling 800-829-3676 . If your employer reimburses you under an accountable plan, you do not include the payments in your gross income, and you may not deduct any of the reimbursed amounts. ...
Read more

If you must amend a return, The IRS wants you to know....

-
Top Ten Facts about Amended Returns Taxpayers who need to make a change or adjustment on a return they already filed can do so by filing an amended return. Here are the top 10 things every taxpayer should know about amending your federal tax return. 1. Taxpayers needing to amend their return use Form 1040X, Amended U.S. Individual Income Tax Return. 2. Taxpayers can use Form 1040X to correct previously filed Forms 1040, 1040A or 1040EZ. The 1040X can also be used to correct a return filed electronically. 3. Taxpayers should file an amended return if they discover any of the following items were reported incorrectly: filing status, dependents, total income, deductions or credits. 4. Generally, you do not need to file an amended return for math errors as the IRS will be ale to make the correction for you. 5. You also do not usually need to file an amended return because you forgot to include forms – such as W-2s or schedules – when you filed; the IRS normally requests thos...
Read more

Vamos A Cuba

-
WASHINGTON — In a measured break with a half-century of U.S. policy toward communist Cuba, the Obama administration lifted restrictions Monday on Cuban-Americans who want to travel and send money to their island homeland. In a further gesture of openness, U.S. telecommunications firms were freed to seek business there, too. But the broader U.S. trade embargo remained in place. The White House portrayed its changes, which fulfilled one of President Barack Obama's campaign promises, as a path to promoting personal freedom in one of the few remaining communist nations. They also marked another major step away from the foreign policy priorities of the Bush administration. But the moves fell far short of the more drastic policy adjustments that some _ including Republican Sen. Richard Lugar _ have argued are required to promote U.S. interests in Latin America and to bring about change in Cuba. For most Americans, Cuba remains the only country in the world their government prohibits them...
Read more