Stocks Shoot Up at Open

Dow sees triple-digit rise
By Kevin Spak,  Newser Staff
Posted Aug 15, 2011 8:46 AM CDT
In this Aug. 12, 2011 photo, specialist Joe Mastrolia, right, works at his post on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew)

(Newser) – Is the panic over on Wall Street? The Dow shot up around 131 points, and the S&P and Nasdaq were up 13.5 and 26.2 as of 9:39am EST. Part of the gain came from Google’s blockbuster acquisition of Motorola, which sent the latter’s stock up 60%, according to the Wall Street Journal. Traders were also watching two other major deals—Time Warner is reportedly close to an agreement to buy Insight Communications, and Bank of America sold its credit card portfolio to Toronto-Dominion Bank.

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