Our analysis now suggests that we are on the verge of a powerful “Santa Claus” Rally in US Equities
which holds the potential to carry the benchmark S&P 500 to 1,425 (+5%) by year end.
BP (quote) is selling to mother Russia. Now there is a bigger global major oil company in state-owned Rosneft (RNFTF, quote) with major ties to Exxon Mobil (XOM, quote) via arctic circle joint ventures, and BP - two of the standard bearers in global oil/gas. This is ultimately a $55 billion deal, making it the third biggest deal in all history.
London-based beverage conglomerate Diageo (DEO, quote) reported its preliminary results for the fiscal year ending June 30, 2012. While the company may not be widely regarded as an emerging markets play, the company saw growth in emerging markets as the primary catalyst behind earnings last year.