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Market Update : 
Agile Jumps 13% on Buyout Offer from Oracle
Author: Elena Todorova
123jump.com
Last Update: 12:05 PM EDT May 16 2007

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In late morning trading, U.S. stocks reversed from earlier gains made on the back of better-than-expected economic data. The Commerce Department said that construction of homes and apartments rose 2.5% in April, while a Fed report showed that industrial output rebounded by 0.7% in April. While the Dow and the Nasdaq traded below the flat line, the S&P 500 managed to remain in positive territory on strong gains by Compuware and Bausch & Lomb, rising 12.2% and 8%, respectively.

 
Currencies

The U.S. dollar was mostly higher against other major currencies in European trading Wednesday morning. The euro traded at $1.3594, up from $1.3592 late Monday in New York. The British pound traded at $1.9834, down from $1.9853. The dollar fetched 120.48 Japanese yen, up from 120.26.
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