Markets Right Now: US stocks up modestly at midday

AP News
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Posted: Oct 31, 2016 11:50 AM

NEW YORK (AP) — The latest on developments in U.S. financial markets:

11:45 a.m.

A strong signal on the economy and more corporate deals helped send stocks higher in midday trading on Wall Street.

Investors were encouraged by a report Monday that Americans increased their spending in September at the fastest pace in three months.

In deal news, telecommunications company Level 3 Communications rose 5 percent after agreeing to be acquired by CenturyLink.

The Dow Jones industrial average rose 17 points, or 0.1 percent, to 18,177. The Standard & Poor's 500 index gained 5 points, or 0.3 percent, to 2,131. The Nasdaq composite climbed 13 points, or 0.3 percent, to 5,203.