Updated from 8:08 a.m. EDT
The U.S. stock market was rising at the open Monday as traders in New York returned from a long holiday weekend to find lower oil prices and a round of merger agreements.
Just after the session began, the
Dow Jones Industrial Average
was up 84 points at 11,373, and the
was adding 8 points at 1271. The
was ahead by 29 points at 2274.
Domestic shares haven't traded since last Thursday, and that was a half session. The market was closed Friday for the Independence Day holiday.
As the new week got underway, investors were greeted with a host of merger news, and the dealmaking appeared to help brighten the mood.
The biggest transaction will see Germany's Fresenius, a seller of intravenous drugs, buy
for roughly $3.7 billion.
Also, China Oilfield Services, a unit of
, is set to pay $2.5 billion for Norway's Awilco Offshore.
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Back in the U.S., the directors of
could be in for a fight to keep their jobs after Belgium's InBev, which is trying to take over the Budweiser maker for $46 billion, said it would try to replace the board.
On the friendlier side,
(GE - Get Report)
NBC Universal division is being joined by
(BX - Get Report)
and Bain Capital to purchase The Weather Channel. Terms of the acquisition weren't released, but reports put the value at around $3.5 billion.
(GM - Get Report)
, whose shares have been trading at multidecade lows amid worries about its financial health, may be close to firing thousands of white-collar workers, according to a published report.
The Wall Street Journal
also said GM might part ways with or end additional brands.