S&P 500 futures were trading down 3.75 points (-.28%) at 1352.75, Dow Jones Industrial Average futures were down 56 points (.44%) at 12752.00, and NASDAQ futures were down 2 points (-.08%) at 2607.75.
WTI crude futures slid today after last Friday’s $7.27 gain due to weak economic data in the U.S. and China. Oil was last trading down $2.52 at $82.44.
Gold futures followed crude’s lead and were trading down $6.70 at $1597.50.
Bristol-Myers Squibb Co. (BMY) agreed to buy Amylin (AMLN) for about $7 billion. The deal marks a great opportunity for Bristol to expand its diabetes research division with ally AstraZeneca PLC. This morning Amylin was trading at $30.71, up $2.51 (8.90%), while BMY gained .33%.
Barclays PLC (BARC) was trading up 3.19% as Chairman Marcus Aguis stepped down after last week’s LIBOR manipulation charge.
Research in Motion (RIMM) continued to fall as it reached a daily low of $7.14, making new 52-week lows. Last week RIMM reported a quarterly loss of $518 million.
Best Buy Co., Inc (BBY) rose 10.31% after the expectation that the founder would team up with Credit Suisse to buyout the company.
David Cornes holds a degree in economics from the University of Montana.