Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Monday, March 21, 2011

Monday

The Dow Jones Industrial Average climbed back above 12,000 today, boosted by a major telecommunications deal and a jump in energy stocks as oil prices rose. AT&T added 1.2% after saying it was buying T-Mobile USA from Deutsche Telekom, a move that would create the nation's largest wireless carrier. Financials strengthened after the Treasury Department said it plans to start selling off the $142 billion portfolio of agency-guaranteed mortgage-backed securities it purchased during the financial crisis. Traders said the government's confidence in its ability to sell the securities in an improved market reflects the sector's improved health. DJIA +178.01 Nasdaq +48.42 S&P 500 +19.18.