Market Surges On M&A

12:45pm (EST)

The market is off to a good start as the bulls have carried the Dow to a triple-digit gain today on a number of deals and takeovers. The Dow is currently enjoying a 120 point pop and is trading at 10,449. The S&P 500 is up 15 to 1,117 while the Nasdaq is up a whopping 30 points to 2,242.

Tech is getting a lift after Intel (INTC, $20.27, up $0.64) was upgraded to “Overweight” from “Equal-Weight” from Barclays Capital. We knew when Intel got back below $20 the upgrades would come but we see sideways movement in shares over the near-term.

Amazon.com (AMZN, $132.51, up $4.03) has been strong all day and could be making another run. Current subscribers, please check the Members Area for a NEW TRADE and the current updates.

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