Warren Buffett's BofA deal drives Dow higher
Wednesday, August 24, 2011
NEW YORK (AP) -- Bank of America is leading the Dow Jones industrial average higher at the opening of trading on news that Warren Buffett is investing $5 billion in the bank.
Bank of America Corp.'s stock jumped 22 percent in early trading.
Apple Inc. fell more than 1 percent after co-founder and CEO Steve Jobs resigned late Wednesday.
The price of gold continues to fall, sinking $42 to $1,715 an ounce. Gold plunged $104 an ounce Wednesday.
The Dow is up 60 points, or 0.5 percent, to 11,381 shortly after the opening bell.
The S&P 500 index is up 11, or 0.9 percent, to 1,188. The Nasdaq is up less than a point at 2,467.
The S&P 500 index has gained 4.8 percent this week but is still down 8.9 percent this month.