The Dow Jones Industrial Average closed above 10000 Monday for the first time in its 103-year history. After climbing 184.54 points from the end of trading last Friday, the Dow settled at 10006.78 - marking yet another milestone in a long rally fueled by the robust US economy.
The retail price for unleaded gasoline in the US jumped a record 6.5 cents last week, averaging just over $1.08 a gallon, the Department of Energy said. It was reportedly the largest increase in fuel costs since weekly tracking of gasoline prices began in August 1990. Costs are rising due to more expensive crude oil and refinery shutdowns.
Computer Associates International said it was buying rival Platinum Technology International for $3.5 billion. The purchase would give Islandia, N.Y.-based Computer Associates - one of the largest makers of business software - access to Platinum's consulting services and software for managing data and technology. The cash offer was more than three times Platinum Technology's market value, based on share prices. Platinum is based in Oakbrook Terrace, Ill.