S&P 500 touches 1,900 for first time
Traders John Santiago, left, and William McInerney, right, work on the floor of the New York Stock Exchange, Tuesday, May 13, 2014. The Standard & Poor's 500 index crossed above 1,900 for the first time Tuesday as investors assessed news on retail sales. DirecTV gained on reports that the AT&T is poised to buy the company for nearly $50 billion. (AP Photo)
NEW YORK, N.Y. - The Standard & Poor's 500 index has crossed 1,900 for the first time as investors get a lift from corporate deal news.
The S&P 500 edged up less than a point to 1,897 as of 11:53 a.m. Eastern time Tuesday. It climbed as high as 1,902 in early trading. The Dow Jones industrial average rose 17 points, or 0.1 per cent, to 16,714. The Nasdaq fell nine points, or 0.2 per cent, to 4,134.
Keurig Green Mountain surged $10.80, or 10 per cent, to $121.51 after Coca-Cola raised its stake in the coffee company.
Valeant Pharmaceuticals said it will improve its bid to acquire Botox maker Allergan, a day after its previous offer was rejected.
Five of the 10 sectors in the S&P 500 rose, led by consumer staples companies.