United States markets were mixed in early trading on Monday and shares of several companies were moving on deals and other news.þþKEEPING SCORE The Dow Jones industrial average was flat and the Standard & Poor’s 500-stock index was down 0.1 percent. The Nasdaq composite index dropped 0.1 percent.þþEARLY MOVERS Shares of Virgin America soared 40 percent in the first few minutes of trading after the company agreed be acquired by Alaska Air. Alaska Air stock dropped 5 percent.þþShares of Edwards Lifesciences rose 16 percent after the company’s new replacement heart valve met its goals in a clinical trial.þþEUROPEAN MARKETS In Germany, the DAX rose 0.7 percent and in France, the CAC 40 gained 1.1 percent. The FTSE 100 was up 0.7 percent in Britain.þþU.S. JOBS The government said Friday that job growth continued at a strong clip in March, slightly stronger than investors expected and showing employers were confident enough to add workers despite the slowing economy. Employers added 215,000 jobs last month, a solid figure but not enough to keep up with the new job-seekers. More people also looked for work, and wages edged higher.þþANALYST’S QUOTE “This month’s job data, together with strong job growth over the last few months, will help to maintain investors’ confidence in the U.S. economy and reduce worries of a recession,” said Margaret Yang, a market analyst at CMC Markets Singapore. But the latest report would have a limited impact on the market’s expectations for another rate increase this year, Ms. Yang said: “Much stronger job growth numbers and rising inflation is probably needed to put pressure on the Fed to raise rates faster.”þþCHINA MANUFACTURING China’s manufacturing activity rebounded in March to its highest level since late August, official data showed on Friday. The purchasing managers’ index came in at 50.2 in March, up from 49 in February, Xinhua News Agency reported, citing official data. A reading above 50 indicates expansion.þþASIA’S DAY The Nikkei 225 declined 0.3 percent in Japan. The Kospi was up 0.3 percent in South Korea. In Australia, the S.&P./ASX 200 lost 0.1 percent. Stocks in Singapore, Indonesia and the Philippines were also higher. Stock markets in China, Hong Kong and Taiwan were closed for a holiday.þþOIL Oil prices seesawed as investors digested reports that Saudi Arabia would freeze its production only if Iran and other producers agreed to do the same. Benchmark United States crude rose 15 cents to $36.93 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, added 13 cents to $38.80 in London.þþCURRENCIES AND BONDS The euro weakened to $1.1377 from $1.1394 while the dollar fell to 111.52 yen from 111.66 yen. Bond prices were stable. The yield on the 10-year Treasury note held steady at 1.77 percent.
Source: NY Times
