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Wall Street rebounds amid takeover activity | The Honolulu Advertiser | Hawaii's Newspaper

Posted at 11:19 a.m., Wednesday, July 11, 2007

Wall Street rebounds amid takeover activity

Associated Press

Wall Street bounced back Wednesday from its sharp decline a day earlier, boosted by takeover activity ahead of second-quarter earnings reports. New acquisitions encouraged buying. Steelmaker Gerdau Ameristeel Corp. said late Tuesday it was buying Chaparral Steel Co. for $4.22 billion, while speculation mounted Wednesday that Colgate-Palmolive Co. was interested in buying all or part of Unilever NV.

  • The Dow Jones industrial average rose 76.49, or 0.57 percent, to 13,578.19.

  • The Standard & Poor's 500 index gained 8.64, or 0.57 percent, to 1,518.76.

  • The Nasdaq composite index advanced 12.63, or 0.48 percent, to 2,651.79.

    For the week:

  • The Dow is down 33.49, or 0.25 percent.

  • The S&P is down 11.68, or 0.76 percent.

  • The Nasdaq is down 14.72, or 0.55 percent.

    For the year:

  • The Dow is up 1,115.04, or 8.95 percent.

  • The S&P is up 100.46, or 7.08 percent.

  • The Nasdaq is up 236.50, or 9.79 percent.
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