Stocks continued their progression higher on Friday amid merger news and a somewhat mellowing jobs number for April. The Dow set another record high close and the S&P 500 got to within 20 points of its all-time high.
Microsoft (MSFT) is rumored to be interested in buying up Yahoo (YHOO), a marriage that would give both companies some heft in the ongoing ad and search war with Google (GOOG). Yahoo would likely benefit from the programming mindset at Microsoft, while Gates' company would get proven online business savvy and a healthy roster of advertising accounts. Neither company would confirm or deny rumors.
Dow 13,264.62 +23.24; Nasdaq 2,572.15 +6.69; S&P 500 1,505.62 +3.23; NYSE Composite 9,793.00 +39.06
The Labor Dept. announced the creation of 88,000 jobs in April, the smallest gain in more than two years, though the figure was in line with expert expectations.
Advancers led declining issues by a 7-5 margin; There were 495 new highs, 73 new lows. The internal numbers suggest that the bull is running along at an even pace.
Light crude for June delivery fell to $61.93, losing $1.26 on the day, the fifth straight day of decline for oil and welcome news for anyone with a gas tank to fill.
Gold: 689.70 +5.30
Silver: 13.53 +0.02
Saturday, May 5, 2007
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