The Standard &
Poor’s 500 Index rose the most since Feb. 3, amid corporate deals and as
investors weighed the timing of interest-rate increases after
lower-than-forecast economic data.
Health-care companies
in the S&P 500 Index advanced 2.2 percent as Salix Pharmaceuticals
Ltd. accepted a sweetened, $11.1 billion takeover offer from Valeant
Pharmaceuticals International Inc. Life Time Fitness Inc. rose 5.2
percent after agreeing to bought by private equity firms.
The S&P 500 Index
climbed 1.3 percent to 2,081.00 at 4 p.m. in New York, and moved back
above its average price for the past 50 days.
The yield on 10-year Treasuries earlier fell as much as five basis points to 2.06 percent, the lowest in two weeks.
The S&P 500 has
lost 1.8 percent from a record on March 2, as a surging dollar stoked
concern earnings growth will be lower than investors project. A gauge of
the currency versus its major peers retreated, after posting four weeks
of gains, before Fed officials start a two-day meeting Tuesday.
Source : Bloomberg
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