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Mid-Day Stock Market Roundup: Stocks Trade Up

U.S. stocks inched up in mid-day trading today as positive economic reports helped to ease the uncertainty of the financial markets. Consumers seem more willing to spend, which is an encouraging

In other financial news:

  • Online auction company EBay Inc. (NASDAQ: EBAY) announced that it plans to purchase GSI Commerce, Inc. (NASDAQ: GSIC) for $2.1 billion. [WSJ]
  • Warren Buffett’s Berkshire Hathaway, Inc. (NYSE: BRK.A) wrote down three of its holdings: U.S. Bancorp. (NYSE: USB), Sanofi-Aventis SA (NYSE: SNY), and Swiss Reinsurance Co. (Pink Sheets: SWCEF). The accounting adjustments were made after a query from the SEC. [Bloomberg]
  • Consumers aren’t the only ones raising their spending. CEOs of public companies are looking to tap into the nearly $1 trillion war chest they amassed during the crisis. What’s on the shopping list? Top items include more mergers and acquisitions, and dividends for shareholders. [Bloomberg]
  • More bad news from the Japanese nuclear crisis. [CNN]
  • Oil prices continue its back and forth as Libyan rebels say they plan to restart production. [NY Times]

Check back as more news develops.

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