Positivity on Wall Street
Successful Iraqi elections as well as SBC’s acquisition of AT&T have sparked optimism for Wall Street stocks.
According to Financial Times, “The Dow Jones Industrial Average was 0.6 per cent higher at 10,490.90, while the S&P 500 index was 0.6 per cent higher at 1,178.67. The Nasdaq Composite index was 1.3 per cent higher at 2,061.66.”
Traders and investors had been nervous about possible terrorist attacks, but minds seem to be set at ease after Baghdad, Washington, and London authorities deemed the Iraqi National Elections successful.
The acquisition of of AT&T by SBC Communications certainly didn’t hurt either.
“Today’s agreement is a huge step forward in our efforts to build a company that will lead an American communications revolution in the 21st century,” Edward Whitacre, SBC chairman and chief executive, said of the company’s acquisition of AT&T. “We will renew America’s leadership in communications technology, with products and services that set the standard for how businesses and individuals communicate.”
Last week marked the first week this year that Wall Street has been up.