Scoreboard: Merger attraction

Wall Street hit a fresh record as investors shrugged off recent weather-distorted data and M&A optimism grew.

Not that there was much in the way of major news or dataflow, but the S&P500 shot up to a new record overnight. The Nasdaq too, by the looks. Most investors are obviously looking through weather-distorted data and as I mentioned the other day, optimism is building on deal activity. Perhaps that was part of last night’s optimism, as a there was a bit more action in the space with RF Micro announcing it will merge with TriQuint. Takeover action in the menswear space would have added to the excitement as well.

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