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Trending higher
Stocks spiked at the open, and remained steadily higher throughout the session. Investors rallied on positive news regarding Japan's nuclear crisis, as well as AT&T's $39 billion deal to acquire T-Mobile USA. Wall Street shrugged off the latest data illustrating ongoing weakness in the housing market. After briefly topping 1,300 for the first time in a week, the S&P 500 Index added 19.18 points, or 1.5%, to close at 1,298.38, with energy ranking as the best performing of its 10 industry groups. Technical wannabes will probably be excited if the S&P 500 closes above its 50-day moving average, currently at 1,303.
Stocks spiked at the open, and remained steadily higher throughout the session. Investors rallied on positive news regarding Japan's nuclear crisis, as well as AT&T's $39 billion deal to acquire T-Mobile USA. Wall Street shrugged off the latest data illustrating ongoing weakness in the housing market. After briefly topping 1,300 for the first time in a week, the S&P 500 Index added 19.18 points, or 1.5%, to close at 1,298.38, with energy ranking as the best performing of its 10 industry groups. Technical wannabes will probably be excited if the S&P 500 closes above its 50-day moving average, currently at 1,303.
