Courtesy of Benzinga.
Toward the end of trading Monday, the Dow traded down 0.18 percent to 14,591.98 while the NASDAQ rose 0.41 percent to 3,216.44. The S&P also rose, increasing 0.46 percent to 1,560.51.
Index Technicals:
The S&P 500 found support at the 1,540 level on Friday, closing around the 1,550 resistance area, while 1,560 will act as resistance above that.
The Dow is holding support at 14,425 and closing in on its 14,550 resistance, while 14,600 will act as resistance further up.
The Russell closed Friday about its daily 50 EMA at 920.55, with 940 resistance above.
Finally, the NASDAQ looks to be showing resistance at 3,240, while displaying support around the 3,170 level.
Top Headline
General Electric Co (NYSE: GE) announced its plans to buy Lufkin Industries (NASDAQ: LUFK) for $3.3 billion in cash.
Lufkin shareholders will receive $88.50 in cash for each Lufkin share.
Equities Trading UP
Lufkin Industries (NASDAQ: LUFK) shot up 37.53 percent to $87.92 after General Electric Co (NYSE: GE) announced its plans to buy the company for $3.3 billion in cash.
Shares of Gol Linhas Aereas Inteligentes (NYSE: GOL) got a boost, shooting up 9.40 percent to $5.82 after the company reported that SMILES has formed partnerships with Polishop and Cybelar.
NII Holdings (NASDAQ: NII) was also up, gaining 14.96 percent to $6.30 after the company’s sale of Nextel Peru triggered a short squeeze.
Equities Trading DOWN
Rio Alto Mining (NYSE: RIOM) was also down, falling 4.85 percent to $4.32 after the company reported that its La Arena Gold Mine poured 36,355 ounces of gold in the first quarter.
Shares of Questcor Pharmaceuticals (NASDAQ: QCOR) dropped 4.70 percent to $30.02 following a downgrade at Favus Research.
Swift Transportation Company (NYSE: SWFT) shares tumbled 3.86 percent to $13.19.
Commodities
In commodity news, oil traded up 0.72 percent to $93.37, while gold traded down 0.18 percent to $1,573.00.
Silver traded down 0.27 percent Monday to $27.25, while copper rose 0.90 percent to $3.37.
Eurozone
European shares were mixed today. The Spanish Ibex Index fell 0.14% while the Italian FTSE MIB Index dropped 0.05 percent. Meanwhile, the German DAX rose 0.05 percent and the French CAC gained 0.09 percent and U.K. shares gained 0.43 percent.
Economics
The TD Ameritrade Investor Movement Index is expected to be released today.
Fed Chairman Ben Bernanke is expected to speak at 7:15 pm.
