Markets closed up on Wall Street: DJI +1.37% SP500 +1.52% Nasdaq +1.74% Gold +0.16%
The markets were up because:
- Home builder Lennar (LEN) and Discovery Financial (DFS) beat earnings. When there’s something good in both home building and finance on the same day, bulls go crazy. Here’s our coverage of the Lennar earnings report >
- A buyout frenzy seems to be picking up steam on Wall Street. M&A is the hot meme of the week and today we had big deal news as French security firm Safran bid $1.1B for L-1 Identity Solutions (ID) and IBM (IBM) said it will gobble up data-warehousing firm Netezza (NZ) for about $1.7B. Don’t Miss the First Installment of Our New Weekly M&A Column: Hewlett-Packard (HPQ) Shareholders: Dude, Where’s My CEO? >
- The S&P (SPY) broke through the key technical resistance high in the trading range. It’s all computers now, remember? Check out our Earnings Sneak Peek: Can Adobe (ADBE) Continue to Ride Good News Out of Apple (AAPL)? >
Recent Wall St. Cheat Sheet Premium pick Chipotle Mexican Grill (CMG) is up over 20%. Click here to see what else we’re recommending now.