Markets Right Now: Stocks end higher on Wall Street

AP News
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Posted: Oct 24, 2016 4:05 PM

NEW YORK (AP) — The latest on developments in global financial markets (all times local):

4:00 p.m.

Stocks are closing higher on Wall Street as traders were encouraged by a big batch of corporate deals.

B/E Aerospace soared 16 percent Monday after agreeing to be acquired by Rockwell Collins.

T-Mobile jumped 9.5 percent after reporting a quarterly profit that was much higher than analysts were expecting.

AT&T fell 1.7 percent and Time Warner lost 3 percent after announcing a deal over the weekend to combine. The tie-up is sure to face close scrutiny from regulators.

The Dow Jones industrial average rose 77 points, or 0.4 percent, to 18,223.

The Standard & Poor's 500 index gained 10 points, or 0.5 percent, to 2,151. The Nasdaq composite climbed 52 points, or 1 percent, to 5,309.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.76 percent.