Stocks end trading with small gains
Thomas Kaye, third from right, works with fellow traders on the floor of the New York Stock Exchange Friday, May 16, 2014. Credit: AP / Richard Drew
Stocks closed up slightly Monday as investors dug into the details of the latest news on corporate deals.
Abbott Laboratories rose 1.5 percent after financial analysts cheered the medical device maker's proposed acquisition of CFR Pharmaceuticals for nearly $3 billion.
Johnson Controls jumped 4.3 percent on news the company is forming a joint venture with China-based Yanfeng Automotive Trim Systems that will create the world's largest maker of automotive interiors.
At the close, the Dow Jones industrial average was up 20.6 points, or about 0.1 percent, to close at nearly 16,512.
The Standard & Poor's 500 index rose 7.2 points, or almost 0.4 percent, to 1,885.1, and the Nasdaq composite gained 35.2 points, or nearly 0.9 percent, to 4,125.8.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.54 percent.
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