Wall Street rolled to a third straight day of gains on Thursday as Britain's central bank raised the prospect of stimulus and consumer staples shares gained on news of Mondelez International's $23 billion bid for Hershey. Bobbi Rebell reports.
Wall Street once again posted gains, making it three days in a row. Comments by Bank of England Governor Mark Caney hinted at an interest rate cut following Britain's vote to exit the European Union, adding steam to the rally. For the quarter: The Dow and S&P moved higher but the Nasdaq took a step back. Meridian Equity Partners Jonathan Corpina: SOUNDBITE: JONATHAN CORPINA, SENIOR MANAGING PARTNER, MERIDIAN EQUITY PARTNERS (ENGLISH) SAYING: "It is kind of interesting because we are running into a really unique time frame of all this news and all these trading patterns. Today is the end of the month, end of the quarter, end of the half year, we've seen a lot of volume come into the market for that. We are starting to see some window dressing today that is helping this market move higher. " Hershey shares had a sweet day. The candy company rejected a $23 billion takeover offer from Mondelez. Lionsgate, the studio behind the "Hunger Games" blockbusters, is buying premium television network Starz in a deal worth $4.4 billion. It's paying a 16 percent premium. Dicks Sporting Goods stock on the rise. A source tells Reuters it is set to win the auction for the brand of its bankrupt rival, Sports Authority. In Europe, stocks had a good day, with the FTSE 100 closing at a high for the year.