Wall Street rises with energy, materials; Berkshire deal a boost

Buffett's Berkshire Hathaway said it would buy Precision Castparts in a deal valuing the company at $32.3 billion. Precision Castparts' shares jumped as much as 19.4 percent to $231.47, while Berkshire Class B shares dipped 0.2 percent to $143.27. The Dow Jones industrial average rose 241.35 points, or 1.39 percent, to 17,614.73, the S&P 500 gained 26.42 points, or 1.27 percent, to 2,103.99 and the Nasdaq Composite added 61.76 points, or 1.22 percent, to 5,105.30.