Markets

Stocks gathered strength across the board during the late afternoon, and most major proxies closed solidly in the black, with blue-chips and Internet issues pacing the market. The

Dow Jones Industrial Average

gained 79.08 to 9772.84; the

S&P 500

rose 7.00 to a record 1286.84; the

Nasdaq Composite Index

jumped 13.06 to 2406.00; the small-cap

Russell 2000

picked up 1.92 to 401.12; and

TheStreet.com Internet Sector

index added 18.79 to close at 587.68.

Major European bourses were flat, while Asian markets had another huge day. Japan's

Nikkei

surged 383.30 to 15,480.00, and Hong Kong's

Hang Seng

skyrocketed 216.06 to 1,749.01.

For more markets action and news, click

here.

Companies

DaimlerChrysler

(DCX)

said that it has ended talks to buy a large stake in debt-ridden Japanese automaker

Nissan Motors

(NSANY)

.

General Motors

(GM) - Get Report

has inked a deal to buy more than $1 billion in recycled aluminum from

IMCO Recycling

(IMR)

.

Someone's buying, rather than getting bought by, a Benelux company for a change. Texas utility

Reliant Energy

(REI) - Get Report

is buying Dutch power company

Energieproduktiebedrijf

for $2.4 billion over seven years.

Sears

(S) - Get Report

will settle a class-action suit charging that it illegally raised the annual percentage rate on its credit cards. Without acknowledging any wrongdoing, Sears agreed to pay $72 million in cash and coupons to about 3 million customers -- about 24 bucks apiece.

"What the heck is

Southland

(SLCM)

?" The prospect of one more investor asking that question has Southland ready to propose at its April 28 shareholder meeting that it change its name to

7-Eleven

, after the convenience store chain that is now the once-diverse Southland's only business.

For more news on companies and stocks, click

here.

General News

The

House Ways and Means Committee

sent the full

House

a bill that would set strict limits on steel imports, despite the fact that a majority of the committee's members opposed it.

After meeting with Kuwait, Oman and Qatar, a Saudi Arabian official said that an oil production-cutting agreement between

OPEC

and non-OPEC members is close to happening. The official said the deal could be announced at the March 23 OPEC meeting in Vienna.

Things are getting worse before they get better in Ecuador. President

Jamil Mahuad

has declared a 60-day state of emergency as the country reels from a plummeting sucre and the threat of nationwide strikes. Mahuad has also extended the surprise banking holiday through Thursday.

Tech

The antitrust case against

Intel

(INTC) - Get Report

isn't necessarily over yet. The

Federal Trade Commission

is continuing its broader investigation against the chip maker, including the issue of whether it illegally leverages its dominance in microprocessors to force its way into other markets, according to

The Wall Street Journal

.

CMGI

(CMGI)

has hired

Morgan Stanley Dean Witter

(MWD)

to look for companies interested in merging with

Lycos

(LCOS)

to thwart the Web portal's acquisition by

USA Networks

(USAI) - Get Report

. CMGI CEO David Wetherell noted that a CMGI bid for Lycos is not out of the question.

For more tech news and commentary, click

here.

International

Whaddya want,

Citigroup

(C) - Get Report

? Pending shareholder approval, Denmark's second-largest bank,

Unibank

, is merging with the country's largest nonlife insurance firm,

Tryg-Baltica

.

Banque Nationale de Paris

disrupted the planned wedding of

Societe Generale

and

Paribas

with a $38 billion hostile bid for

both

banks. Societe Generale and Paribas are now scrambling to repel the bid.

And the

Olivetti

/

Telecom Italia

(TI)

saga continues. Olivetti has asked

Consob

, Italy's stock market regulator, to intervene in Telecom Italia's defensive plan to borrow 10 billion euros and possibly merge with cellular unit

Telecom Italia Mobile

, which Olivetti claims would be illegal as long as its $58 billion tender offer is on the table.

For more international news and commentary, click

here.

Elsewhere

A former office manager at the

University of Minnesota

claims to have written hundreds of

papers and performed other course work for at least 20 members of the university's basketball team, according to

The Pioneer Press

.

TSC

Editor-in-Chief and

Minnesotan

Dave Kansas

has yet to comment on the charges, which four former Gophers have confirmed.

New York Yankees

manager

Joe Torre

has been diagnosed with prostate cancer. No word yet on who will manage in his stead while he undergoes treatment at

Johns Hopkins University

in Baltimore.

At last filling that gaping pothole in the lives of humorists everywhere, former Sen.

Alfonse D'Amato

announced his next move: He'll be writing an advice column called "Ask Alfonse" for

George

magazine.

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