NEW YORK (AP) — U.S. stocks are closing modestly higher after some encouraging economic reports and a big acquisition in the semiconductor industry.
Chip designer Altera jumped 6 percent Monday, the most in the Standard & Poor's 500 index, after the company agreed to be bought by Intel for $17 billion in cash.
The Dow Jones industrial average rose 29 points, or 0.2 percent, to 18,040.
The S&P 500 rose four points, or 0.2 percent, to 2,111. The Nasdaq composite climbed 12 points, or 0.3 percent, to 5,082.
The price of crude oil slipped 10 cents to $60.20 a barrel in New York.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.18 percent.