Market Watch 09/28/2009

Today is Monday, It’s sunshine in here. Sunshine on my shoulders makes me happy.

 

A burst of corporate dealmaking is giving investors a shot of confidence about economy.

 

The Dow Jones industrial average jumped 124.17 points, or 1.3 percent, to close at 9789.36. The Broader Standard & Poor’s 500 index rose 18.60, or 1.8 percent, to 1062.98, and the Nasdaq composite index rose 39.82, or 1.9 percent , to 2130.74.

 

Abbott Laboratories said Monday it would acquire the pharmaceutical business of Belgian chemicals maker Solvay for $6.6 billion, while and Xerox Corp. agreed to buy Affiliated Computer Service for about $6.4 billion.

 

Analysis said that it’s encouraging to all investors when you see companies buy because basically what that says is they’re in more aggressive mode as opposed to being in the fetal position.