Most commodities rallied over the weekend pushing the iShares Silver Trust ETF(SLV) up over 5%, the United States Oil ETF(USO) up 2% and the SPDR Gold Trust ETF(GLD) over 1% in pre-market trading.
Look for Exxon Mobil(XOM), up nearly 1%, and Freeport-McMoran Copper & Gold(FCX), up 1.4%, to lead a rebound in commodity stocks as they performed well in overseas trading. Silver mining stocks Hecla Mining(HL), up over 6%, and Silver Wheaton(SLW), up nearly 3%, are rebounding with the precious metals.
U.S. Steel(X) is trading higher this morning behind a positive mention from Barron's. The article, citing an analyst, suggested America's largest steel producer could rally 65% over the next year behind higher earnings.
Dollar Thrift Automotive(DTG) is almost 9% higher after receiving a rival acquisition offer from Hertz Global(HTZ). Thrifty rejected a prior deal last year from Hertz as they wait for federal regulatory action on a deal with Avis Budget Group(CAR).
The risk trade appears to be back on for now with leading tech stocks Apple(AAPL), Netflix(NFLX) and Amazon(AMZN) all up in pre-market trading along with Chinese technology stocks Sina(SINA), Youku(YOKU) and E-Commerce China Dangdang(DANG). For the latest updates PRESS CTR + D or visit Stock Market news Today
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