Stocks around the world rebounded today after a summer decline during the previous two days. As of late in the European trading session, most stocks have been trending slightly higher, with most countries on the continent showing increases in all of the key market gauges. For example, the Euro Stoxx 50 index has climbed about 3 percent over the past 24 hours.
In the U.S., most major indexes have moved higher, with the S&P 500 up by 0.5 percent. As shown below, the S&P 500 has been on a rather erratic run since late June, when the index set a new all-time closing high at 2,023.09 on July 5. On Monday, the index traded as low as 1,919.35 and as high as 1,962.26. It is currently sitting at 1,943.40, a rise of 0.5 percent. The S&P is now in record territory for four consecutive trading days.
We also have a report of a regional deal, as the company Foxconn has reached a deal with the federal government in Wisconsin to build a $10 billion factory, and manufacture electronics on the plains of Wisconsin, according to Reuters.
Regarding M&A, we have a report that Wyndham Worldwide Corp. is preparing to buy rival hospitality company La Quinta Holdings Inc. for $3.9 billion to help it tackle rising competition from online rivals, Bloomberg reported.
Vinamex, an auto parts and tires manufacturer, has rejected a $2.5 billion takeover offer from Chinese auto parts company Qingdao Haier Co., according to a report by the Financial Times.
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