U.S. Market
Stocks were lower again this morning after Friday’s major sell-off.
Crude oil futures in New York fell below $35 a barrel before recovering in mid-morning trading. Oil hasn’t been this low since February 2009.
At midday the Dow, S&P 500 and Nasdaq were down 0.5%, 0.6% and 0.7% respectively.
Stocks on the Move
Newell Rubbermaid (NWL) confirmed this morning that it is buying Jarden (JAH) for $13 billion. The deal brings together a large number of consumer brands from Crock-Pot to Sharpie to Cephalon under one roof. Newell Rubbermaid shares fell over 8% on the news while Jarden shares rose over 2%.
Foreign Markets
European markets gave up early gains to move lower today. The FTSE 100, Paris CAC and Germany’s Dax were down 1%, 0.9% and 1.1% respectively.
Asian markets were mixed today. The Shanghai Composite climbed 2.5%, the Nikkei 225 was down 1.8% while the Hang Seng fell 0.7%.
Shanghai Composite