Stock added to last weeks rally after weekend talks in Europe made headway in solving the debt crisis there. And takeover news in this country, plus better than expected earnings from Caterpillar (NYSE:CAT) also contributed to the euphoria. Heading into the last hour of trading, the Dow was up 1.12%, the Nasdaq was up almost 2-1/2% and the S&P 500 was up 1.44%.
Takeovers helped boost investor confidence this morning with Toymaker Mattel (NASDAQ:MAT) agreeing to buy HIT Entertainment - the maker of popular preschool brand Thomas & Friends.
In the insurance industry, Healthspring (HS) agreed to be acquired by Cigna (NYSE:CI) for a 33% premium to it's closing price on Friday.
And the Wall Street Journal reported this morning that Google (NASDAQ:GOOG) has discussed a potential bid for Yahoo (NASDAQ:YHOO).
Tomorrow, investors will be looking at government reports on Consumer Confidence and housing prices as well as more corporate earnings reports.
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