Closing bell: Private equity deals boost Nasdaq, Dow
Closing bell: Private equity deals boost Nasdaq, Dow Wall Street roared back Monday, erasing its losses of last week after private-equity buyout deals involving companies such as Four Seasons Hotels and OSI Restaurant Partners revived investors' belief that stocks still have room to run.
The technology-heavy Nasdaq composite index advanced 35.16, or 1.5 percent, to 2,365.95.
Silicon Valley's biggest tech stocks by market value were higher. Cisco Systems, Google, Intel, Hewlett-Packard, Oracle, Apple Computer, eBay, Yahoo, Gilead Sciences and Applied Materials all advanced.
The Dow Jones industrial average rose 119.51, or 1 percent, to 12,105.55. The Standard & Poor's 500 index was up 15.48, or 1.1 percent, at 1,379.78.
``Apparently there are a lot of entrepreneurial buyers who still find the stock market cheap and there is an enormous amount of money in their hands that can be used to buy companies,'' said Michael Metz, chief investment strategist at Oppenheimer.
Monday Newspaper Review - Irish Business News and International ...
Monday Newspaper Review - Irish Business News and International ... The Irish Independent reports that over the past five years as punters have followed canny investors into the residential property, much of the smart money moved into commercial property.
The figures speak for themselves. In 2000, Irish investors bought commercial property to the value of 2bn. By last year that had risen to 9bn, and this year it will be surprising if the Irish appetite for commercial property does not exceed 11bn.
With so much money chasing a relatively finite resource, yields in the Irish market plummeted and investors moved first to the UK and then further afield, seeking not only better returns but a more diversified portfolio of assets.
This year it is expected that Irish commercial property investors will pile 3bn into assets in Ireland, but will spend 5bn in the UK market, about 1.5bn in other European countries and around 0.5bn in the US.
Two million per day to travel over Thanksgiving
Two million per day to travel over Thanksgiving Brace yourself. The Air Transport Association (ATA) projects that more than two million passengers per day will travel during the coming 12-day Thanksgiving crush. That's a total of some 25 million folks.
ATA says November 17 through 28 will be busiest. This nation's airlines expect a three percent rise over last year's figures. What does that mean to you?
Airplanes should be more than 80 percent full over the holiday. Look for them to be fullest on Sunday, November 26, and Monday, November 27. Those should be the holiday's two busiest days.
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