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Looking for positive stock momentum...Home sales report due...EU austerity trims government borrowing

Monday - 4/22/2013, 7:38am  ET

NEW YORK (AP) -- Investors are hoping the stock market will continue its positive momentum this week. The market recovered some of its losses Friday, a positive end to Wall Street's worst week in five months. The Dow rose 10 points to 14,547 and the S&P 500 index rose 13 1/2 points to 1,555. The Nasdaq composite index also climbed, gaining 39 1/2 points to 3,206. Friday's slight gains. The futures trade suggests continued gains at this morning's opening.

SEOUL, South Korea (AP) -- International stock markets rose today, with Tokyo stock markets heading close to a five-year high after a meeting of global finance leaders lent support to Japan's aggressive monetary policy. Benchmark oil inched up and continues to hover above $88 per barrel. The dollar gained against the euro and the yen.

UNDATED (AP) -- Traders will gain some insight into the housing recovery today. The National Association of Realtors releases existing home sales for March this morning. There are a few companies reporting their quarterly financial results today. They include industrial giants Caterpillar and Halliburton. Also reporting are toy-maker Hasbro and the Internet movie-streaming firm Netflix.

BRUSSELS (AP) -- Official figures show the austerity medicine pursued across a number of European countries is working, at least when it comes to reducing annual borrowing levels. Eurostat, the European Union's statistics office, says that the cumulative level of government deficits across the 17 EU countries that use the euro fell to 3.7 percent of the region's annual gross domestic product from 4.2 percent in 2011.

LONDON (AP) -- A new survey says companies around the world are still reluctant to go on the acquisition trail even though they are becoming more confident about the global economy. In its half-yearly assessment of the intentions of big companies, accounting and consultancy firm Ernst & Young said the growing optimism has yet to be translated into more investment or corporate deal-making.


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