Wall Street closes with records as telecom stocks soar

By Ovunc Kutlu

NEW YORK

Three major indexes on Wall street closed at record-high levels as telecommunication giants' shares increased more than 2 percent.

T-Mobile and Sprint, two of the biggest mobile service operators in the U.S., are reported to have been in merger talks, according to CNBC earlier.

The companies' shares jumped 5.8 percent and 6.7 percent, respectively.

Other American telecom majors Verizon and AT&T also saw their stock price gain 2.6 percent and 2.1 percent, respectively.

As a result, the Dow rose 39 points to close at 22,370. The S&P was up 2 points to hit 2,506.

The Nasdaq increased 6 points to finish the day at 6,461.

All there indexes closed at their all-time highest levels.