Thursday, May 31, 2007
U.S. stocks rise amid deal news
DJIA
13,647
+14.06
S&P
1,531
+1.10
NASDAQ
2,602
+9.93
10Yr
4.90%
+0.026
U.S. stocks rise amid deal news
NEW YORK
U.S. stocks rose on Thursday, as the market welcomed Wachovia Corp.'s
purchase of brokerage A.G. Edwards for $6.8 billion, which helped
investors shrug off news that first-quarter growth was revised to 0.6%
from an initial estimate of 1.3%.
Wachovia buying A.G. Edwards for $6.8 billion
NEW YORK
Wachovia Corp. said Thursday it would acquire brokerage firm A.G.
Edwards Inc. for $6.8 billion, expanding its national reach and creating
the nation's second largest retail brokerage.
Economic Report: U.S. GDP revised lower to 0.6% in first quarter
WASHINGTON
The U.S. economy slowed to a crawl in the first quarter, held back by
falling investments in homes, shrinking inventories and a large trade
gap, the Commerce Department reported Thursday.
Mortgages: U.S. mortgage rates edge higher for third straight week
PHILADELPHIA
Mortgage rates edged higher for a third straight week, Freddie Mac said
Thursday, with the national average on the benchmark 30-year, fixed-rate
loan hitting 6.42%, up from 6.37% a week earlier. The rate remains below
its year-ago level of 6.67%.
