Futures Up After Big Homebuilder Merger, Insurer Bailout

Hey! It’s a deal. Don’t see too many of these nowadays.

Homebuilder Pulte (PHM) is buying out Centex (CTX) for $1.3 billion, which should, if nothing else, bring some much-needed consolidation to the beleaguered sectors. We’re not sure what it means for the entire market, but it’s something.

And of course the insurance stocks are all racing up on reports that they’ll be let in under the TARP. Hartford is up 21% pre-market. Lincoln National (LNC) is up 25%.

Overall the futures are up just a bit, though they were sharply lower earlier in the morning.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.