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Takeover deals trigger Wall Street rally; stocks end up | The Honolulu Advertiser | Hawaii's Newspaper

Updated at 11:51 a.m., Friday, May 18, 2007

Takeover deals trigger Wall Street rally; stocks end up

Associated Press

Wall Street drove stocks higher Friday after another spate of corporate takeover deals. The Dow Jones industrial average registered its 24th record close of the year and the Standard & Poor's 500 index came within a few points of its record high. In addition to takeover news involving big names like General Electric Co. and Microsoft Corp., investors were pleased to see a stronger-than-expected reading on May consumer sentiment.

  • The Dow rose 79.81, or 0.59 percent, to 13,556.53.

  • The Standard & Poor's 500 index added 10.00, or 0.66 percent, to 1,522.75.

  • The Nasdaq composite index gained 19.07, or 0.75 percent, to 2,558.45.

    For the week:

  • The Dow is up 230.31, or 1.73 percent.

  • The S&P is up 16.90, or 1.12 percent.

  • The Nasdaq is down 3.77, or 0.15 percent.

    For the year:

  • The Dow is up 1,093.38, or 8.77 percent.

  • The S&P is up 104.45, or 7.36 percent.

  • The Nasdaq is up 143.16, or 5.93 percent.
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