The Closing Look

Stocks rallied on Monday as investors digested the latest round of mixed earnings data and another mega-merger between AT&T & Time Warner. Over the weekend, AT&T (T) reached a deal to acquire Time Warner (TWC) for more than $85 billion, or $107.50 per share. The deal is made possible by easy money from the Fed and other central banks and will likely face a lot of regulatory scrutiny. In other news, shares of T-Mobile (TMUS) surged after the company reported earnings. Elsewhere, oil prices fell after Iraq said it would not join OPEC in cutting production. This put pressure on a slew of energy stocks.

Gary’s Thoughts: Deals…deals…deals…and good action in tech/internet/semis. But range-bound continues. A bunch of DOW stocks as well as Apple tomorrow.