Wall Street rises on takeover deals

Wall Street rises on takeover deals Wall Street rose bullish Friday on a round of takeover deals.

Coca-Cola announced that it had taken over Energy Brands, a energy drinks maker for 4.1 billion U.S. dollars.

Meanwhile, the NASDAQ Stock Market, Inc. bought Nordic stock exchange operator OMX AB for 3.7 billion U.S. dollars on Friday.

The National Association of Realtors reported that sales of existing homes in the United States fell by 2.6 percent in April, the slowest pace in nearly four years.

However, investors showed little reaction on the weak data.

The Dow Jones industrial average rose 66.15, or 0.49 percent, to 13,507.28. The Standard & Poor's 500 index advanced 8.22, or 0. 55 percent, to 1,515.73, and the Nasdaq composite index rose 19.27, or 0.76 percent, to 2,557.19.

Source: Xinhua