Monday, July 01, 2013 5:31 pm
News Summary: Stocks gain as Fed fears ease
The Associated Press
NEW QUARTER, NEW MONEY: Stocks likely benefited from new money coming into the market at the start of the quarter. During the last 10 years the S&P 500 has risen on the first trading day of the new quarter, twice as many times it has fallen, gaining an average of 1.15 percent.
CABLE WARS: Cablevision rose $1.62, or 9.6 percent, to $18.44 after reports that Time Warner Cable is considering making a bid for the company. Reports had circulated last week that billionaire John Malone was considering a bid for Time Warner.