Talk of more corporate deals sends stocks higher
NEW YORK – Talk of more deal-making is sending stock prices higher, setting the market up to continue a seven-week rally.
Reports that Office Depot and OfficeMax are discussing a merger come after several big corporate deals were announced in recent weeks. OfficeMax soared 20 percent, while Office Depot rose 9 percent.
The Dow Jones industrial average rose 53 points to close at 14,035 Tuesday. The Standard & Poor's 500 index rose 11 to 1,530. The Nasdaq composite rose 21 points to 3,213.
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