Stocks up Big, Japan and AT&T
The Dow Jones is up 186 points, thanks to easing worries about Japan's nuclear crisis and AT&T's (NYSE:T) big buyout.
(http://www.dailyfinance.com/market-news/) AT&T Inc. said it would buy rival T-Mobile USA for $39 billion, creating the largest U.S. cellphone company, and Charles Schwab Corp. said it would buy online brokerage services provider OptionsXpress for $1 billion. The deals raised hopes that more corporate buyouts could be on the way as businesses become more confident in the economic recovery.
WallStNation.com Sponsors - Become one Today
"You only expand when you have a good feeling about the future," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners.
Worries about Japan's stricken nuclear reactors were easing. The Nuclear Regulatory Commission said the situation at the Fukushima Dai-ichi plant appeared to be stabilizing and that containment at three of the plant's six reactors was intact.
The Dow Jones industrial average rose 186 points, or 1.6 percent, to 12,044 in midday trading.
The violence in Libya and Japan's earthquake have led to many large swings in the Dow since late February. The Dow rose or fell by 100 points or more during three days last week. Seven of the 14 trading days since the start of March have had swings that large.
The S&P 500 index gained 20, or 1.6 percent, to 1,299. It's now just five points below the level it closed at on March 11, the day the earthquake struck Japan. The Nasdaq composite rose 51, or 1.9 percent, to 2,694.
See full article from DailyFinance: http://srph.it/cupeHD