Stocks Inch Up as Builders Merge

By Kevin Spak,  Newser Staff
Posted Apr 8, 2009 8:44 AM CDT
Stocks Inch Up as Builders Merge
In this March 24, 2009 file photo, traders work on the floor at the New York Stock Exchange in New York.   (AP Photo/Seth Wenig, file)

Stocks crept higher at the open, as a pair of homebuilders planned a big merger and the government sought to help life insurers. The Dow inched up 25 points, and the S&P 0.6%, while the Nasdaq jumped 1.3%. Centex shares soared 28% on news that it would merge with Pulte Homes to create the world’s largest homebuilder. Concern about earnings still lingered however—Ryder dropped 11% after warning that its earnings would disappoint. (Read more earnings reports stories.)

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