U.S. stocks rose, with the Nasdaq Composite Index climbing to a 14-year high, as tensions eased over global conflicts. Dollar General Corp. rallied on merger activity.
Dollar General surged 12 percent after offering $9.7 billion for Family Dollar, which rallied 4.9 percent. Southwest Airlines Co. and Delta Air Lines Inc. led gains among industrial companies as oil prices fell. Homebuilders rose as confidence in the industry climbed to the highest level in seven months. Internet and biotechnology stocks advanced, continuing to pare losses from earlier this year.
The Standard & Poor’s 500 Index increased 0.9 percent to 1,971.74 at 4 p.m. in New York, within 0.8 percent of an all-time high. The Dow Jones Industrial Average gained 175.83 points, or 1.1 percent, to 16,838.74. The Nasdaq jumped 1 percent to the highest level since 2000. About 5.1 billion shares changed hands on U.S. exchanges today, 12 percent below the three-month average.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.