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Stock Market News Today: Dow Ends Five-Day Losing Streak

By , Money Morning -

The biggest stock market news today: After five sessions of declines - the longest consecutive streak of losses so far this year - stocks finally closed higher.

The Dow Jones Industrial Average closed at 15,328.49, for a 55.23-point gain. The Standard & Poor's 500 rose 5.90 to 1,698.67, and the Nasdaq closed up 26.33 at 3,787.43.

In stock market news today, new applications for unemployment benefits fell by 5,000 to 305,000 last week, according to the Labor Department's report today. However, that number is slightly shy of the 300,000 new applications economists expected.

As for the gross domestic product (GDP), that report was unchanged, meaning the U.S. economy grew to the reported 2.5% in the second quarter.

Here are the biggest stocks making news today:

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Deal Making is About to Get White Hot

By , Chief Investment Strategist, Money Morning • @ShahGilani_TW -

Not only is the market rally on, but trigger-happy bankers and private equity wheeler-dealers are about to send it even higher.
The reason is simple: There are trillions of dollars of cash just sitting on the sidelines looking for a deal.
That means deal action - of all kinds - is about to get white hot.
In fact, the combination of positive capital flows and the pursuit of greater economies of scale has us at the beginnings of a multi-year deal-driven bull market.
Here's where we are and where we're going next.

    Today's Markets
    DJIA -6.35 (0.02%) 26,863.74
    NASDAQ -130.22 (-1.23%) 10,420.27
    S&P -15.60 (0.48%) 3,210.96