News In Brief
Speeding past the 11000 level, the Dow Jones Industrial Average shattered the record for the fastest rise between 1,000-point milestones. The index of 30 blue-chip stocks rose 225.65 to close at 11014.69. It took just 24 trading days for the Dow to move from 10000 to 11000. The previous record for 1,000-point gains - from 6000 to 7000 - was 89 trading days from October 1996 to February 1997. Monday's close also was the Dow's fourth record high in five consecutive trading sessions.
The Conference Board said its index of leading economic indicators rose 0.1 percent in March, following a revised 0.3 percent increase in February. The increase in the forecasting gauge was in line with expectations of Wall Street economists and was seen as a sign of continuing growth.
Once the world's leading maker of minicomputers, Wang Laboratories of Billerica, Mass. - also known as Wang Global - agreed to a $2 billion buyout by the Dutch high-tech company Getronics. The new entity is expected to be the largest provider of computer services in Europe and the fifth-largest in the world, with 33,000 employees in 44 countries. Wang lost its edge in minicomputers in the 1980s, filed for bankruptcy in 1992, and now focuses on setting up and maintaining networks for its clients.