Stocks in U.S. Begin Week to the Upside
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 S&P 500 was adding 8 points at 1271. The Nasdaq 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 APP Pharmaceuticals (APPX) for roughly $3.7 billion. Also, China Oilfield Services, a unit of CNOOC (CEO), is set to pay $2.5 billion for Norway's Awilco Offshore.
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