Corporate deals encourage investors on Wall Street

By Staff and Wire Reports - 11/4/2009


Wall Street sidestepped some of its doubts about the economy Tuesday as corporate dealmaking edged many stocks higher.

Investors were encouraged by billionaire investor Warren Buffett's decision to pay $34 billion for the railroad Burlington Northern Santa Fe in what he termed an "all-in wager" on the future of the U.S. economy. Meanwhile, tool maker Stanley Works struck a deal late Monday to acquire Black & Decker Corp. for $3.46 billion in stock.

The Dow Jones industrial average dipped 17.53, or 0.2 percent, to 9,771.91, but the broader Standard & Poor's 500 index rose 2.53, or 0.2 percent, to 1,045.41, and the Nasdaq composite index rose 8.12, or 0.4 percent, to 2,057.32.





Email to a Friend
Main Menu