The Top Five Stories Moving the Stock Market Today By Garrett Baldwin

Stock market today, Sept. 29, 2014: U.S. markets rebounded Friday, with biotech companies leading the charge. The markets got a strong shot in the arm after the U.S. Commerce Department revised GDP growth upward for the second quarter. The U.S. economy accelerated at its strongest pace in 30 months. This morning, the U.S. dollar struck a six-year high against the yen and a 22-month high against the euro. The post The Top Five Stories Moving the Stock Market Today appeared first on Money Morning - Only the News You Can Profit From .

Stock market today, Sept. 29, 2014: U.S. markets rebounded Friday, with biotech companies leading the charge. The markets got a strong shot in the arm after the U.S. Commerce Department revised GDP growth upward for the second quarter. The U.S. economy accelerated at its strongest pace in 30 months.

This morning, the U.S. dollar struck a six-year high against the yen and a 22-month high against the euro.

Here's what else you should know to make your Monday profitable:

  • Stock market todayCashing Out: With Pacific Investment Management Co. (Pimco) founder Bill Gross jumping to Janus Capital (NYSE: JNS) to begin trading next week, Deutsche Bank (NYSE: DB) predicts that Pimco could see roughly 20% of its assets flow out of company funds in the next two years. According to current estimates, that equates to roughly $265 billion in outflows. Shares of Janus Capital were up more than 43% on Friday after news broke that Gross will soon be managing an unconstrained bond fund at the company. Pimco saw $10 billion in outflows on Friday alone, according to the Wall Street Journal.
  • Merger Mania: Shares of Texas-based Athlon Energy Inc. (NYSE: ATHL) were up more than 24% this morning on news that the company would be purchased from Canadian energy producer Encana Corp. (NYSE: ECA) in a deal estimated at nearly $7.1 billion. The strategic acquisition gives Encana access to a large range of assets totaling roughly 140,000 acres in Texas's oil-rich Permian Basin.
  • Another Big IPO: Restaurant and arcade Dave & Buster's Entertainment Inc. announced this morning to price 5.88 million shares at a range of $16 to $18 in its initial public offering. The company had previously filed for an IPO in July 2011, but never followed through on the deal. Its ownership also considered a number of buyout offers earlier this year before deciding to go public. The company is expected to raise more than $100 million on the deal.
  • Independence Day: Just weeks after Scotland voted narrowly to remain part of the United Kingdom, another freedom movement is gaining steam in Europe. The government of Catalonia, an eastern province of Spain that contains Barcelona, has planned to poll its more than five million voters in a nonbinding referendum on whether they seek independence. Spain's prime minister and his government in Madrid is planning an emergency meeting to block the vote in court.
  • Seeking Synergy: Shares of Yahoo Inc. (Nasdaq: YHOO) and AOL Inc. (NYSE: AOL) were up again in premarket ours. Shares of both surged on Friday -- more than 4% and 3% respectively - on news that Yahoo! shareholder Starboard Value LP urged a merger between the two online giants. Yahoo! CEO Marissa Mayer said on Friday that her company would consider Starboard's position very soon.
  • Today's Economic Calendar: Today's schedule features the Dallas Fed Manufacturing Survey, an update on farm prices, and a speech from Chicago Federal Reserve Bank President Charles Evans.
  • Earnings Reports: Stay tuned for earnings reports from Ferrellgas Partners L.P. (NYSE: FGP), Cantel Medical Corp. (NYSE: CMN), Implant Sciences Corp. (OTC: IMSC), and Northrop Grumman Corp. (NYSE: NOC)

Full U.S. Economic Calendar September 29, 2014

  • Personal Income and Outlays at 8:30 a.m.
  • Chicago Federal Reserve Bank President Charles Evans speaks at 9 a.m.
  • Pending Home Sales Index at 10 a.m.
  • Dallas Fed Manufacturing Survey at 10:30 a.m.
  • 4-Week Bill Announcement at 11 a.m.
  • 3-Month Bill Auction at 11:30 a.m.
  • 6-Month Bill Auction at 11:30 a.m.
  • Farm Prices at 3 p.m.

NOW: Here's what rising interest rates really do to your shares. What you've been hearing from the pundits is all wrong...

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The post The Top Five Stories Moving the Stock Market Today appeared first on Money Morning - Only the News You Can Profit From.

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