(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
Jeff Wuorio, Deseret News