Analysts tell Marketwatch that a 'buy the rumor, sell the fact' is the reason global market rallies are fizzling after the French President election. The favorite, Emmanual Macron, won in a landslide. Investors like the promises he made during the campaign to reform but not dismantle the European Union. Comcast (CMCSA) and Charter Communications (CHTR) are expected to announce a wireless partnership today. Reuters says the partnership is aimed at cutting the significant costs of entering the wireless market, as well s speeding up entry. The deal will bar either company from entering into a material transaction for a year without the other's consent. Sinclair Broadcasting (SBGI) is said to be near a deal to buy Tribune Media (TRCO) . Several reports over the weekend say a buyout could be announced this week at $45 a share. Sinclair and Tribune both own local TV stations all over the country. A deal would need regulatory approval.
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Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.