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Stocks Advance to Start the Week

Business

0  Updated at 4:03 pm, February 24th, 2014 By: ABC Digital
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iStock/Thinkstock(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.

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