Buzzword: Merger Monday
Wall Street professionals knew to expect the big merger announcements -- and occasionally good news -- on the first business day of the week. But these days, Monday's not always so sunny.
Traders works the floor of the New York Stock Exchange this week in New York City. (Credit Getty Images - Spencer Platt)
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Gloomy beginnings bring us this week's Marketplace Money buzzword: Merger Monday.
Merger Monday was the nickname Wall Streeters gave to the first day of the week, 'cause it's the day many companies chose to announce their latest acquisitions. Those announcements set the tone for the week's trading, sometimes leading to big gains.
But now, the biggest Monday merger will probably be between worry and fear. After last week's stock market plunge, the banks who facilitate mergers have got cold feet.
So for a while, anyway, bankers will be singing "Rainy days and Mondays always get me down . . ."
