Dow was off 50, advancers over decliners about 3-1 & NAZ slid back 18. The MLP index went up 1+ to the 224s & the REIT index rose 4+ to 361. Junk bond funds edged higher. & Treasuries had very limited buying. Oil hardly budged in the 69s & gold added 4 to 1934.
AMJ (Alerian MLP Index tracking fund)
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Big US banks to face Fed's annual stress tests this week
Rebellion in Russia reveals ‘cracks’ in Putin’s regime, Secretary Blinken says
IBM (IBM). a Dow stock, confirmed the $4.6B purchase of software company
Apptio, giving the tech giant greater automation capabilities. IBM will buy Apptio from Vista Equity Partners, which took the company private back in early 2019. The software company provides tools to help companies keep track of the software & services they use, & better manage costs. IBM is transforming itself into a company focused on the hybrid cloud & artificial intelligence businesses. CEO Arvind Krishna has sharpened the company's focus on areas including hybrid-cloud & quantum computing. In Apr, IBM reported first-qtr revenue of $14.3B, up slightly from the prior year. IBM recorded software revenue of $5.9 billion, up 2.6% year-over-year. The stock rose 1.14.
If you would like to learn more about IBM, click on this link:
club.ino.com/trend/analysis/stock/F_aid=CD3289&a_bid=6aeoso5b6f7
IBM's latest move to enhance company's automation capabilities
The stock absorbed the news from Russia with a sense of calm. Meanwhile end of the month economic data will be coming soon.
Dow Jones Industrials