Wall Street overcame its recent caution Wednesday, with several acquisitions stabilizing stocks and lower-than-expected gross domestic product growth easing fears about inflation. Acquisitions in the technology and pharmaceutical industries seemed set to reinvigorate those sectors. Google Incorporated, Seagate Technologies and IBM Corporation all announced major purchases as Allergan Incorporation said it will buy Inamed Corporation. Final third-quarter gross domestic product figures were lower than anticipated, with the economy growing at an annual rate of 4.1 percent instead of the expected 4.3 percent. However, investors welcomed the news as a sign that the Federal Reserve would be unlikely to continue raising interest rates. The 4.1 percent growth rate was still considered strong. Light sweet crude oil rose slightly after earlier lows this week, with a barrel for February 2006 delivery ending the day at $58.56. --More 0038 Wall Street Closing New York The stock market also ended the day higher, with both the key Dow Jones industrial average and Nasdaq composite index seeing gains. The Dow Jones rose 28.18, or 0.26 percent, to 10,833.73, some 94 points lower than its peak in Wednesday trading. The Nasdaq added 9.24, or 0.42 percent, to 2,231.66. The broader Standard & Poor's 500 index climbed 3.17, or 0.25 percent, to 1,262.79, while the Russell 2000 index of smaller companies rose 6.96, or 1.03 percent, to 679.74. The New York Stock Exchange composite index rose 29.48 to 7,806.75. The American Stock Exchange composite index fell 2.01 to 1,753.09.
