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Rosetta Resources Soars on Acquisition News, but All Major Indexes Fall

July 13, 2023
in Trade Tube
Reading Time: 1 min read
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Stocks ended Monday’s trading session lower, across the board. The S&P 500 lost 11 points. The Dow Jones Industrial Average fell 86 points and the Nasdaq finished lower by 10 points. This comes after the markets rallied on Friday, following the strong April jobs report, in which 223,000 jobs were created during the month. But the markets struggled to stay afloat amid worries over Greece’s ongoing debt woes. The country is in talks about a bailout package, but didn’t make the spending reforms needed to qualify for such a loan, according to a report from the Associated Press. Meanwhile, stocks in China rose over 3 percent after Chinese officials cut interest rates for the third time in the past six months. Plus, crude oil fell slightly, trading at $59.25 per barrel, but rose more than 14% over the past month. Also, shares of Rosetta Resources (ROSE) soared some 27 percent after Noble Energy (NBL) announced plans to buy the company for $2.1 billion.

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