Takeover news and a production report from the Fed pushed shares higher.
Stocks continued their climb Tuesday. Helping matters was news that Cingular had won its $41 billion bid for AT&T Wireless. Also, Disney said it had rejected Comcast's hostile-takeover but also said it would listen to other offers. Then there was the Federal Reserve report that production in factories, utilities, and mines rose 0.8% in January.
Our markets ended up Tuesday. Our InformationWeek 100 index enjoyed the highest percentage gain, up 4.61 points, or 1.4%, to 339.22. The Nasdaq followed close behind, rising 26.79 points, or 1.3%, to close at 2,080.35. The Dow rose 87.03 points, or 0.8%, to end at 10,714.88. And the S&P 500 rose 11.18 points, or 0.98%, to 1,156.99.
The Nasdaq-100 tracking stock closed at $37.44, up 50 cents, or 1.4% for the day, on moderate volume of 68 million shares.
5 Top Federal Initiatives For 2015As InformationWeek Government readers were busy firming up their fiscal year 2015 budgets, we asked them to rate more than 30 IT initiatives in terms of importance and current leadership focus. No surprise, among more than 30 options, security is No. 1. After that, things get less predictable.