US Stocks Rally in Morning Trading on Dealmaking
NEW YORK (AP) — Stocks are moving higher as investors respond to the latest round of corporate deals.
The Standard & Poor’s 500 index rose eight points, or 0.5 percent, to 1,844 in the first few minutes of trading Monday.
The Dow Jones industrial average increased 81 points, or 0.5 percent, to 16,184. The Nasdaq composite rose 20 points, or 0.5 percent, to 4,283.
Jos. A Bank rose 7 percent after Men’s Wearhouse said it was stepping up its pursuit of the clothing retailer. Men’s Wearhouse also rose 7 percent.
RF Micro Devices surged 15 percent after the chip maker said it was combining with TriQuint Semiconductor. TriQuint soared 19 percent.
Bond prices rose slightly. The yield on the 10-year Treasury note edged down to 2.73 percent from 2.74 percent Friday.
(Story by: The Associated Press)