Stocks Shoot Up at Open

Is the panic over on Wall Street? The Dow shot up around 131 points, and the S&P and Nasdaq were up 13.5 and 26.2 as of 9:39am EST. Part of the gain came from Google’s blockbuster acquisition of Motorola, which sent the latter’s stock up 60%, according to the Wall Street Journal. Traders were also watching two other major deals—Time Warner is reportedly close to an agreement to buy Insight Communications, and Bank of America sold its credit card portfolio to Toronto-Dominion Bank.