A positive batch of corporate earnings and improvements in manufacturing have markets and exchange traded funds (ETFs) moving higher this morning. Commodities are also benefiting, thanks to a softened dollar and a stronger euro.
The Greek government has one month to prove they are making large budget cuts aimed at keeping their debt crisis within their borders. The Associated Press reports that Greece’s previous plans that masked their debt are under investigation. The country has a deadline of March 16. [Hope in Sight for Greece, Spain and Portugal?]
Simon Property Group (NYSE: SPG) has made a $10 billion bid for General Growth Properties (NYSE: GGP), which is trying to come out from under bankruptcy protection. The New York Times DealBook reports that Simon said in a statement that its offer, made a little over a week ago, would accelerate General Growth’s emergence from Chapter 11 protection and would offer creditors a full cash recovery for their holdings. iShares FTSE NAREIT Retail (NYSEArca: RTL) is up more than 2% this morning; Simon is 21%.
Crude oil prices are up as the dollar weakens and renewed Iranian tensions are dominating the energy markets. David Bird for The Wall Street Journal reports that light, sweet crude oil is up more than 2% to $75.75. [For more stories about oil, visit our oil category.]
- United States Oil (NYSEArca: USO)
Roger Runningen for Bloomberg reports that President Barack Obama said expanding U.S. nuclear power production will add jobs. This will also help the cleaner energy movement and help our economy recover. If the plan is to go into effect, this new nuclear plant will be the first one to be built in more than a decade in the United States. [6 ETFs to Play Obama’s Clean Energy Push.]
- Market Vectors Nuclear Energy (NYSEArca: NLR)
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