Dow opens in record territory

Stocks rose at the open pushed higher by strong housing starts and a bevy of acquisitions by major investors.

May 16 2007: 9:36 AM EDT

NEW YORK (CNNMoney.com) -- Wall Street was encouraged Wednesday by bullish buys from major investors like Warren Buffett and George Soros as well as news from the housing sector.

The Dow, Nasdaq and S&P all rose in the first moments of trade.

The pace of home building showed an unexpected jump in April, but at the same time builders signaled their lack of faith in the market by cutting back on the number of permits for additional homes to a nearly 10-year low.

Legendary investor Warren Buffett revealed in an SEC filing that Berkshire Hathaway (Charts, Fortune 500) has taken stakes in two major U.S. railroads -- Norfolk Southern (Charts, Fortune 500) and Union Pacific (Charts, Fortune 500) - as well as in the health care sector with purchases of insurer Wellpoint (Charts, Fortune 500) and an increased stake in Dow component Johnson & Johnson (Charts, Fortune 500).

In addition, George Soros revealed that he has more the doubled his holdings in Microsoft (Charts, Fortune 500). Also Edward Lampert and Bill Gates announced their holdings.

Oil prices fell ahead of the weekly energy inventory report.

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.