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Monday, October 1, 2007

Dow smashes through 14,000 again

The Dow soars to new highs as investors see profit
warnings from banking giants Citigroup and UBS as
signals they have their troubles under control.
Nokia is in a deal to buy Navteq for $8.1 billion;
Acxiom's buyout comes off the table.

Stocks soared to their best levels of the year after
two big banks used big profit warnings to suggest they
were getting their financial problems behind them.

The Dow Jones industrials smashed through 14,000 for
the first time since July and closed up nearly 192
points, or 1.4%, to just under 14,088. That was a new
closing high and broke the record of 14,000.41 set on
July 19.

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