High on Tech, Higher on Mergers

Market Wrap-Up

Traders decided to start the week by quickly putting Friday's 311-point drop in their rear view mirrors. Tech stole the show. Hewlett-Packard (HPQ) was reportedly negotiating a $12 billion to $13 billion bid for Electronic Data Systems (EDS), the technology consultancy. The deal would make H-P a more formidable competitor against International Business Machines (IBM). Research In Motion (RIMM) announced the launch of a new BlackBerry. Meanwhile, financials and retailers also posted decent quarterly results. The Dow Jones Industrial Average gained 130 points to 12,876. Gold hit $882 per ounce and oil closed at $124 per barrel.

Winners

As traders got wind of the H-P deal, they pushed up the shares of target EDS. Its shares gained 28%. ProShares Ultra Technology (ROM) moved up 2.6%.

Losers

Oil touched a record $126 per barrel last week. On Monday, though, black gold's historic run hit a bit of a pothole: The per-barrel price slid back down to $124. The United States Oil fund (USO) dropped 1.9%.

Monday's Industry Headlines

Growth Story: Index Universe writes that WisdomTree filed to launch an innovative series of ETFs that combine dividends, earnings and a new growth screen to create what it calls "fundamentally weighted" growth ETFs.

Tuesday's Notebook

Earnings
Applied Materials, Carrefour, Comverge, Consolidated Water, Echostar, Electronic Arts, Fossil, Helen of Troy, Liz Claiborne, Pioneer Drilling, TJX, Walmart, Whole Foods

Quick Take

A look at how the industry's most popular ETFs did on Monday.

10 Largest ETFs
Symbol	Net Assets	Price	52 Week High	52 Week Low	Volume
SPY	82,300	140.46	156.39	127.71	145,452,396
EFA	45,423	76.64	85.64	67.18	6,138,154
EEM	23,848	148.89	165.39	117.49	10,599,199
GLD	NA	86.99	99.81	63.55	5,009,801
IVV	16,409	140.72	156.65	127.94	2,561,911
QQQQ	17,038	49.09	55.03	41.17	89,123,653
IWF	12,858	58.59	63.64	52.79	1,645,567
SHY	9,574	83.12	84.49	79.64	569,702
VTI	9,779	139.78	155.31	126.28	430,242
IWD	8,328	77.3	89.77	70.41	1,343,278