Stocks rose this morning amid signs of easing tensions between Russia and Ukraine.
Home builder confidence rose in August according to a survey released by the National Association of Home Builders today. The reading of 55 was above analyst expectations of 53 and shows that most homebuilders see conditions in the single-family new home market as good today.
At midday the Dow, S&P 500 and Nasdaq were up 1.0%, 0.8% and 0.9% respectively.
Stocks on the Move
The battle for Family Dollar (FDO) heated up this morning after Dollar General (DG) made a $9 billion cash offer for the company. The move comes after Dollar Tree (DLTR) made an $8.5 billion cash and stock offer for Family Dollar last month. Family Dollar shares rose nearly 5% on the news, Dollar General was up almost 10% while Dollar Tree was off 2%.
European markers were higher today on easing Ukraine tensions. In late trading, the FTSE 100, Paris CAC and Germany’s DAX were up 0.8%, 1.3% and 1.8% respectively.
Asian shares were mostly higher o the day too. The Shanghai Composite was up 0.6% while the Nikkei 225 and Hang Seng were both unchanged.