- US equities pushed higher on Monday led by energy stocks and reports of a merger/takeover in the Dow.
The DJIA added 1.40%, the S&P 500 put on 1.45% and the NASDAQ gained 1.47%
- CNBC reported that Honeywell International and United Technologies have held talks to merge but would face significant antitrust resistance
- Oil spiked higher following a report by the International Energy Agency stating supply reductions will cause the market to re-balance in 2017
- Markit's US flash manufacturing PMI dropped to 51.0 in February (mkt est 52.4)
- In Europe, stock markets rallied higher led by mining stocks (FTSE 350 mining index +8%). The DAX gained 1.98%, the CAC 40 put on 1.79% and in the UK the FTSE 100 added 1.47%
- Brexit continued to headline above the fold with JPM predicting that the UK stays in Europe and that equities will overall remain bid
- Markit's Eurozone flash composite PMI fell to 52.7 in February (mkt est 53.3)
- US Treasuries: The benchmark 10-year bond yield is up 1.4bps to 1.759%
Reference: MKS News
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