Stocks Move Mostly Higher Amid M&A Activity - U.S. Commentary

(RTTNews) - Stocks have moved mostly higher in early trading on Monday, adding to the gains posted in the previous week.

Currently, the major averages are hovering firmly in positive territory. The Dow is up 86.60 points or 0.5 percent at 18,232.31, the Nasdaq is up 43.86 points or 0.8 percent at 5,301.26 and the S&P 500 is up 10.49 points or 0.5 percent at 2,151.65.

The strength on Wall Street comes as a flurry of activity on the merger-and-acquisition front has generated buying interest.

Shares of B/E Aerospace (BEAV) have moved sharply higher after the company agreed to be acquired by Rockwell Collins (COL) in a deal valued at $6.4 billion.

Media Time Warner (TWX) also agreed to be bought by AT&T (T) for more than $85 billion, while Genworth Financial (GNW) agreed to be acquired by China Oceanwide Holdings for $2.7 billion.

Traders are also digesting the latest batch of quarterly results as the earnings season to pick up steam.

Networking, semiconductor, and software stocks are turning in some of the best performances on the day, while gold stocks have moved to the downside along with the price of the precious metal.

In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Monday. Japan's Nikkei 225 Index rose by 0.3 percent, while Hong Kong's Hang Seng Index advanced by 1 percent.

Meanwhile, the major European markets are turning in a mixed performance on the day. While the U.K.'s FTSE 100 Index has fallen by 0.4 percent, the French CAC 40 Index and the German DAX Index are both up by 0.7 percent.

In the bond, treasuries have shown a notable move to the downside after showing a lack of direction in recent sessions. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 1.9 basis points at 1.759 percent.