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Mar 25 2015

Market digests the news of a blockbuster merger deal

3/24/15 Market Recap:

Stocks fell in yesterday’s trading as good economic news, particularly in new home sales, became bad news for the market. In what has been a regular occurrence in recent trading, any positive indication coming from the US economy has led to speculation that the Fed may be more willing to raise rates in the near term. In yesterday’s case, that better than expected economic news came from new home sales which increased by 7.8% month over month and reached its highest levels in seven years. The market has also been inversely correlated with the Dollar, which rebounded yesterday against its major counterparts. All of the major averages were down with the S&P losing the most in the session. Among the 10 S&P sectors, declines were similarly broad-based with Utilities falling by more than 1%.

Looking Ahead:

Futures are flat this morning as the market digests the news of a blockbuster merger deal that would combine HJ Heinz and Kraft Foods. The combined company, which will be called The Kraft Heinz Company, will be the third largest food and beverage company in the US and the fifth largest in the world. Economic data for the day is light with durable orders coming at 8:30 am. In overnight trading, the Euro is once again gaining ground on the Dollar while Treasury yields continue to fall further below 1.9%.

Don’t miss Money Matters with Gary Goldberg on Sunday at 11 AM on WOR 710 AM Radio for a more detailed discussion of the current economic, market environment and what investors should focus on now. Visit for details.