Summary Box: Stocks at highest level since August

AP News
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Posted: Oct 24, 2011 5:33 PM
Summary Box: Stocks at highest level since August

TAKEOVERS: A series of corporate deals helped lift the market. Oracle, Cigna, Mattel and J.M. Smucker were among companies that announced acquisitions.

EUROPE: Investors are still waiting for a resolution to Europe's debt problems. European leaders said they made progress at a weekend summit and plan to unveil concrete plans for containing the crisis Wednesday.

COMEBACK: The Standard & Poor's 500 index rose to 1,254.19. It's the highest close for the S&P 500 since Aug 3. If the S&P 500 finishes the year with a gain, it will be its biggest turnaround since 1984.