How the major stock indexes fared Monday

AP News
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Posted: Aug 15, 2011 6:08 PM
How the major stock indexes fared Monday

Stocks are having their longest rally since early July. A $19 billion corporate buying spree and encouraging economic news form Japan sent the Dow Jones industrial average up 213 points and erased its losses from last week.

The return of what's called "Merger Monday" on Wall Street made investors more optimistic about the future. Google led Monday's deals with its $12.5 billion purchases of Motorola Mobility Holdings. Time Warner Cable, Cargill and Transocean also announced purchases of more than $1 billion each. A report showed that Japan's economy shrank less than feared following the March 11 earthquake and tsunami. That helped temporarily ease worries that the U.S. economy may slide into another recession.

The Dow has gained 762.96 points since Thursday. That's the best three-day point gain since it rose 927.18 in November 2008, during the depths of the financial crisis. The Dow is also up 7.1 percent over the three days, the biggest percentage gain since it rose 9.5 percent the first three days of the bull market in March 2009.

The Dow Jones industrial average rose 213.88 points, or 1.9 percent, to 11,482.90.

The broader Standard & Poor's 500 index rose 25.68, or 2.2 percent, to 1,204.49.

The Nasdaq composite rose 47.22, or 1.9 percent, to 2,555.20.

For the year to date:

The Dow is down 94.61 points, or 0.8 percent.

The S&P 500 is down 53.15, or 4.2 percent.

The Nasdaq is down 97.67, or 3.7 percent.