The possible acquisition of troubled mortgage lender Countrywide by Bank of America lifted the markets to a higher close with the Dow soaring 118 points to 12,853. Nasdaq climbed 14 points to 2489.
On the upside
On the downsideWhile The Children's Place Retail Stores (Nasdaq: PLCE) reported higher same-store sales for December, the gain was below analyst expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 8 points to 720.