A couple of big M&A deals should boost equities today but a downgrade of Intel by Morgan Stanley could work to offset the M&A optimism. Buffett’s Berkshire Hathaway has bought Burlington Northern while Stanley Works is buying Black and Decker. Undoubtedly that last merger will result in an entity known as Big Tool. The stronger dollar is a clear negative for stocks, early on.
The S&P is down 6 points in early trade, about 0.6%.
