Dow +28.18, Nasdaq +9.24, S&P 500 +3.17
The Dow finished 28.18 points higher to close at 10,834, the Nasdaq rose 9.24 points to close at 2,232, and the S&P 500 gained 3.17 points to close at 1,263. The markets closed out in the green today as lower-than-expected GDP growth eased inflation fears, and a slew of acquisitions raised optimism, but late-day caution took the market off its highs.Volume was steady with 2.05 billion shares trading on the NYSE and 1.63 billion on the Nasdaq. Advancers outpaced decliners today by a margin of 21:12 on the NYSE and trailed them 18:12 on the Nasdaq. In individual stories, Maxtor (NYSE: MXO) closed 53.32% higher after announcing it will be acquired by rival Seagate Technology (NYSE: STX) for $1.9 billion in stock. On the downside, Wavecom SA (Nasdaq: WVCM) closed 15.25% lower after saying Q4 sales will fall sequentially. Tomorrow, traders will be watching for economic data on Initial Claims, Personal Income, Personal Spending, and Leading Indicators. Initial Claims, Personal Income and Personal Spending are due to hit the wires at 8:30 A.M. Leading Indicators are expected at 10:00 A.M.
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