New evidence of a stronger economy and a flurry of corporate deals are giving the stock market a good push. The stock price of LSI Corp went up Monday after Avago Technologies announced that it was purchasing the company for $6.6 billion dollars. AIG’s stock price was also on the rise as it announced the purchase of its aircraft leasing division for $5.4 billion dollars.
Factory Production Up
According to the Federal Reserve, factory production went up in November as auto production surged. So far the gains showed that manufacturing is strengthening and could aid in economic growth. The Dow Jones industrial average went up 129 or 0.8 percent to close at 15,884.57. Meanwhile, the Standard & Poor’s 500 index went up by as much as 11 points or 0.6 percent to 1,786.54. The Nasdaq went up by 28 points or 0.7 percent to 4,029.52. The stock market has ended with declines weekly for at least two straight weeks.
Lance Mounsey
Lance Mounsey is a professor in Marketing in a university in New York. He has also worked as a copywriter in a well-known advertising agency
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