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NEW YORK (AP) — Stocks have regained a sizeable chunk of last week's losses. A resurgent energy sector and another big acquisition by Warren Buffett helped boost shares today. The Dow ended its seven-day losing streak, gaining 241 points, or 1.4 percent, to 17,615. The S&P 500 climbed 26 points, or 1.3 percent, to 2,104. And the Nasdaq composite added 58 points, a 1.2 percent increase, finishing at 5,101.
NEW YORK (AP) — Energy stocks are among the leading gainers on Wall Street today, thanks to a rebound in the price of oil. Benchmark U.S. crude hit its lowest level of the year this morning, but finished the day at $44.96 in New York, gaining $1.09. The energy sector jumped 3 percent, as companies such as Exxon-Mobil and Chevron climbed.
OMAHA, Neb. (AP) — Warren Buffett's latest buy has lifted industrial stocks. Buffett's Berkshire Hathaway has agreed to buy Precision Castparts, a maker of industrial components, for $32 billion. Precision Castparts was the biggest gainer in the S&P 500, with shares jumping more than $37 or 19 percent to $230.92. Berkshire will pay $235 per share in cash for Precision Castparts' outstanding stock. The pace of corporate deal making has been surging this year as borrowing costs have stayed low, making it easier for companies to fund acquisitions.
MOUNTAIN VIEW, Calif. (AP) — Google is changing its operating structure and will become part of a holding company called Alphabet. Alphabet will house the main Google businesses such as search, maps and YouTube, along with businesses managed separately such as Fiber, Nest and investing arms like Google Ventures. Larry Page will become the CEO of Alphabet. Sergey Brin will be the president and Eric Schmidt will become executive chairman.
DENVER (AP) — Colorado's governor and tribal officials with the Navajo Nation have issued disaster declarations after millions of gallons of contaminated water spilled from a mine into the Animas River. The U.S. Environmental Protection Agency has yet to say if the metals pose a threat to human health. But some drinking water systems on the Navajo Nation have shut down their intake systems and stopped diverting water from the river, while farms along the Animas and San Juan river valleys in New Mexico have no water to irrigate their crops.
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