U.S. stocks extended a week of gains, buoyed by $31.7 billion of acquisitions, falling oil prices and an analyst's prediction that demand for mobile-phone chips will grow.
Dollar General Corp. rose the most ever and led the Standard & Poor's 500 Index to its third gain in three days after it agreed be acquired by Kohlberg Kravis Roberts & Co. Intel Corp. drove technology shares to their highest level this month, lifting the Dow Jones Industrial Average and Nasdaq Composite Index.
Today's takeovers gave investors another reason to buy stocks after last week's unexpected drop in February unemployment and Treasury Secretary Henry Paulson's reassurances that the economy will avoid recession. The S&P 500 now has recovered almost half its losses since the global rout in equities Feb. 27.
Read more at Bloomberg.com
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