(NEW YORK) — Wall Street stocks began the week by advancing after the latest round of corporate deal-making.
With some selling in the final hour, the Dow Jones Industrial Average finished up 104 points to close at 16,207. The S&P 500 appeared to be headed for a new high but finished at 1,847, up 11 points. The Nasdaq Composite added 29 points to close at 4,292.97.
Facebook shares are up, closing at $70 a share. Investors are still buzzing about the social network’s decision to buy WhatsApp. At the Mobile World Congress in Barcelona Monday CEO Mark Zuckerberg said the $19 billion acquisition came about because the startup is on track to reach a billion users.
In his annual letter to investors Warren Buffet offered a refresher on his strategy. He said while you don’t need to be an expert, stick to what you know and focus on what an investment will produce — not its price. He also advises against trying to predict what the economy or stock market will do.
Copyright 2014 ABC News Radio
Tara Bench, KSL.com
Jethro Mullen Ivana Kottasova and Patrick Gillespie, CNN
Brian Stelter, CNN Newswire