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Dow opens in record territoryStocks rose at the open pushed higher by strong housing starts and a bevy of acquisitions by major investors.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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