Market Overview

Benzinga Mid-Morning Market Update


Following the market opening Thursday morning, and ahead of this afternoon's Federal Reserve announcement, the Dow was down slightly, about 0.01 percent, or roughly 1.78 points. The NASDAQ rose about 0.05 percent, or 1.50 points, while the S&P fell a bit, trading down 0.04 percent, decreasing 0.54 points.

Ben Bernanke, Chairman of the Federal Reserve is set to speak to the press early Thursday afternoon. The market is expecting an announcement of QE3, or at least some form of monetary policy expansion.

FirstMerit (NASDAQ; FMER) announced its acquisition of Citizens Republic Bancorp (NASDAQ; CRBC) for $912M in stock. CRBC rose 1.61 percent in early trading, while shares of FirstMerit fell 10.49 percent.

In tech news, Facebook's (NASDAQ: FB) rally continued as share prices rose 0.54%, trading around $21.05.

Shares of Equinix (NASDAQ: EQIX) surged 10.27% to $205.70 in early trading, following news that its board approved the company's REIT conversion plan.

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