One Born Every Minute
Wall Street began the day on the positive side as traders cheered changes at the top of Starbucks and possibly at Bear Stearns, and largely shrugged off more ugly home sales figures.
As of 10:08 a.m. EST, the Dow Jones Industrial Average rose 67.47 points, or 0.53% to 12896.18, the Standard & Poor’s 500 index gained 12.95 points, or 0.91% to 1429.13 and the Nasdaq Composite Index picked up 24.54, or 0.98%, to 2525.00. The consumer-friendly Fox 50 rose 6.57, or 0.64%, to 1035.04.
The market started 2008 sluggishly, with fears the economy may be slipping into a recession weighing on traders. Wall Street hasn't had a day with all three major indexes advancing and the Nasdaq Composite has fallen in seven consecutive sessions.
News broke after yesterday’s closing bell about the departure of Starbucks CEO (SBUX) Jim Donald and the possible exit of Wall Street investment bank Bear Stearns CEO (BSC) James Cayne. Shares of both stocks rose on the executive shuff…