GE-Alstom Deal Moves Ahead on EU Approval; Stocks Rebound

General Electric (GE) maintained earlier gains after the European Union approved its $17 billion acquisition of Alstom's energy business.
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General Electric (GE) maintained earlier gains after the European Union approved its $17 billion acquisition of Alstom's energy business. The approval will allow GE to move ahead with its biggest ever deal. Stocks rocketed higher, rebounding after big declines to end last week. Hopes for further monetary stimulus in China helped to boost U.S. markets after Chinese exports fell for a second straight month in August. Weaker imports and exports in China pressured commodity markets, though, on fears of weaker demand. West Texas Intermediate lost around a dollar on Tuesday to trade under $45 a share. Strategic Hotels (BEE) moved higher after agreeing to be acquired by Blackstone Group (BX) in a deal worth around $6 billion.