US mid-morning: Confidence data supports stocks

RELATED QUOTES

SymbolPriceChange
BIG38.72-0.20
SCMR0.568+0.001
GOOG536.10-20.44
MWW6.95+0.08

LONDON (ShareCast) - Shares are off their worst levels of the day following better than expected US consumer confidence data out this morning (Dow Jones (DJI: ^DJI - news) : -0.10%, Nasdaq Comp.: -0.07%; S&P 500 (SNP: ^GSPC - news) : 0.14%). Furthermore, German chancellor Angela Merkel has reportedly conceeded to at least study a proposal for common liabilities on sovereign debt. Nonetheless, reports regarding the likelihood of a significantly weaker than expected outlook for bank lending in China, in 2012, are weighing down equity futures, as is the selling pressure to be seen in some periphery debt markets, such as Spain. Back on the company front, Dell (NasdaqGS: DELL - news) is to acquire Quest software (NasdaqGS: QSFT - news) . Shares in Talbots (NYSE: TLB - news) are plummeting on news that Sycamore Networks (NasdaqGS: SCMR - news) has finally decided not to acquire it. Illinois Tool Works (Dusseldorf: 940785.DU - news) may rise on the back of positive broker comments out of JP Morgan. Verifone is off by 7% in 'pre-market' trades. To be had in account, next Monday Wall Street will be closed in observance of Memorial Day, which may weigh on trading volumes today. Consumer confidence data comes in ahead of expectations The University of Michigan's final reading on consumer confidence for the month of May has come in at 79.3 (Consensus: 77.8), following a reading of 77.8 in the month before. In particular, the expectations sub-index improved to 74.3, the highest since July 2007, from 72.3 in April. Long dated Treasuries move higher Front month West Texas crude futures are rising by 0.43% to the $91.05 per barrel mark in NYMEX trading. 10 year US Treasuries are now rising by 10/32 dollars, with yields at 1.74%. S&P 500 - Risers Sprint Nxtel Corp. (S) $2.64 +4.35% Sandisk Corp (NasdaqGS: SNDK - news) . (SNDK) $33.51 +3.91% Big Lots Inc (NYSE: BIG - news) . (BIG) $37.12 +3.83% Netflix Inc (NasdaqGS: NFLX - news) . (NFLX) $72.41 +3.05% CME Group Inc. (CME) $262.59 +2.51% Marathon Petroleum Corporation (MPC (KOSDAQ: 050540.KQ - news) ) $36.56 +2.12% Nvidia Corp. (NVDA) $12.36 +2.06% Metropcs Communications Inc (NYSE: PCS - news) . (PCS) $6.57 +2.02% Sara Lee Corp (NYSE: SLE - news) . (SLE) $21.24 +1.97% Safeway Inc (Xetra: 878922 - news) . (SWY) $19.20 +1.96% S&P 500 - Fallers Harman International Industries Inc. (HAR) $40.71 -2.37% Google Inc (NasdaqGS: GOOG - news) . (GOOG) $589.96 -2.27% Priceline.Com Inc. (PCLN) $655.40 -2.03% Cabot Oil & Gas Corp. (COG) $34.38 -1.97% Range Resources Corp (NYSE: RRC - news) . (RRC) $61.03 -1.83% Titanium Metals Corp (NYSE: TIE - news) . (TIE) $11.92 -1.81% AK Steel Holding Corp. (AKS) $6.30 -1.79% Flowserve Corp. (FLS) $106.08 -1.78% Expedia Inc (NasdaqGS: EXPE - news) . (EXPE) $44.51 -1.64% Monster Worldwide Inc (NYSE: MWW - news) . (MWW) $8.54 -1.61% Dow Jones I.A - Risers Procter & Gamble Co. (PG) $63.00 +0.69% Pfizer Inc. (PFE) $22.24 +0.45% General Electric Co. (GE) $19.32 +0.34% Wal-Mart Stores Inc. (WMT) $65.29 +0.34% Walt Disney Co. (DIS (SNP: ^DISY - news) ) $44.58 +0.33% Verizon Communications Inc. (VZ) $41.52 +0.31% AT&T Inc. (T) $33.73 +0.27% Cisco Systems Inc (NasdaqGS: CSCO - news) . (CSCO) $16.43 +0.24% Home Depot Inc (NYSE: HD - news) . (HD) $49.79 +0.16% Bank of America Corp (NYSE: IKJ - news) . (BAC) $7.15 +0.14% Dow Jones I.A - Fallers Caterpillar Inc (NYSE: CAT - news) . (CAT) $90.28 -1.25% Boeing Co (NYSE: BA - news) . (BA) $70.63 -1.06% Alcoa Inc (NYSE: AA - news) . (AA) $8.56 -0.82% Chevron Corp (NYSE: CVX - news) . (CVX) $99.30 -0.76% American Express Co. (AXP) $55.93 -0.73% E.I. du Pont de Nemours and Co. (DD) $48.34 -0.66% International Business Machines Corp. (IBM (NYSE: IBM - news) ) $194.81 -0.65% JP Morgan Chase & Co. (JPM) $33.76 -0.62% Kraft Foods Inc. (KFT) $38.50 -0.49% United Technologies Corp. (UTX) $73.21 -0.39% Nasdaq 100 (Nasdaq: ^NDX - news) - Risers Sandisk Corp. (SNDK) $33.51 +3.91% Research in Motion Ltd. (RIMM) $11.02 +2.89% Nvidia Corp. (NVDA) $12.36 +2.06% Dell Inc. (DELL) $12.65 +1.61% Broadcom Corp. (BRCM) $31.65 +1.61% Altera Corp (NasdaqGS: ALTR - news) . (ALTR) $34.24 +1.44% Applied Materials Inc (NasdaqGS: AMAT - news) . (AMAT) $10.52 +1.40% Apollo Group Inc. (APOL) $32.94 +1.32% Mylan Inc (NasdaqCM: MYLNG - news) . (MYL) $21.56 +1.32% Lam Research Corp (Hamburg: LAR.HM - news) . (LRCX) $38.12 +1.30% Nasdaq 100 - Fallers Google Inc. (GOOG) $589.96 -2.27% Priceline.Com Inc. (PCLN) $655.40 -2.03% Expedia Inc. (EXPE) $44.51 -1.64% Seagate Technology Plc (STX (KSE: 011810.KS - news) ) $25.97 -1.59% Wynn Resorts Ltd. (WYNN) $101.86 -1.33% NetApp Inc. (NTAP) $28.50 -1.11% Amazon.Com Inc. (AMZN) $213.00 -1.04% Apple Inc (NasdaqGS: AAPL - news) . (AAPL) $559.74 -0.99% Sears Holdings Corp (NasdaqGS: SHLD - news) . (SHLD) $56.07 -0.92% Intuitive Surgical Inc (NasdaqGS: ISRG - news) . (ISRG) $526.67 -0.91% AB