Investing.com – U.S. stocks were up after the open on Monday, following the release of better-than-expected retail sales data and amid increased merger and acquisition activity.
During early U.S. trade, the Dow Jones Industrial Average gained 0.24%; the S&P 500 index rose 0.19%, while the Nasdaq Composite index was up 0.04%.
Earlier in the day, official data showed that U.S. retail sales rose more-than-expected in October, increasing by a seasonally adjusted 1.2%, after rising by a revised 0.7% in September. Analysts had expected retail sales to increase by 0.7% in October.
Meanwhile, a separate report showed that the New York Federal Reserve’s index of manufacturing conditions fell more-than-expected in November.
Following the release of the retail sales data, shares in the third-largest retailer in the U.S. Costco gained 0.78%, while shares in automaker Ford Motors leaped 3.07% after the report showed that U.S. auto sales rose by 5.0% in October.
Meanwhile, shares in the world's largest maker of construction and mining equipment Caterpillar rose 0.88% after it agreed to acquire fellow mining equipment maker Bucyrus International for approximately USD 8.6 billion. Shares in Bucyrus surged 29.22% following the news.
In other deal news, shares in information technology specialist EMC fell 0.37% after it agreed to buy data storage manufacturer Isilon Systems in a deal valued at approximately USD 2.25 billion. Following the news, Isilon Systems saw shares soar 28.72%.
In earnings news, shares in the second-largest U.S. home improvement retailer Lowe’s jumped 3.00% after it said third quarter net income rose by 17% to USD 404 million, up from USD 344 million a year earlier, as sales in the quarter increased by 1.9% to USD 11.6 billion.
Shares in rivals Home Depot, which was expected to report its third-quarter earnings on Tuesday, rose 1.34%.
Across the Atlantic, European stock markets posted sharp gains: France’s CAC 40 leaped 1.09%; Germany's DAX jumped 1.11%; Britain's FTSE 100 gained 0.60%; and the EURO STOXX 50 climbed 1.17%.
Earlier in the day, official data showed that the euro zone posted a larger-than-expected trade surplus in September.
During early U.S. trade, the Dow Jones Industrial Average gained 0.24%; the S&P 500 index rose 0.19%, while the Nasdaq Composite index was up 0.04%.
Earlier in the day, official data showed that U.S. retail sales rose more-than-expected in October, increasing by a seasonally adjusted 1.2%, after rising by a revised 0.7% in September. Analysts had expected retail sales to increase by 0.7% in October.
Meanwhile, a separate report showed that the New York Federal Reserve’s index of manufacturing conditions fell more-than-expected in November.
Following the release of the retail sales data, shares in the third-largest retailer in the U.S. Costco gained 0.78%, while shares in automaker Ford Motors leaped 3.07% after the report showed that U.S. auto sales rose by 5.0% in October.
Meanwhile, shares in the world's largest maker of construction and mining equipment Caterpillar rose 0.88% after it agreed to acquire fellow mining equipment maker Bucyrus International for approximately USD 8.6 billion. Shares in Bucyrus surged 29.22% following the news.
In other deal news, shares in information technology specialist EMC fell 0.37% after it agreed to buy data storage manufacturer Isilon Systems in a deal valued at approximately USD 2.25 billion. Following the news, Isilon Systems saw shares soar 28.72%.
In earnings news, shares in the second-largest U.S. home improvement retailer Lowe’s jumped 3.00% after it said third quarter net income rose by 17% to USD 404 million, up from USD 344 million a year earlier, as sales in the quarter increased by 1.9% to USD 11.6 billion.
Shares in rivals Home Depot, which was expected to report its third-quarter earnings on Tuesday, rose 1.34%.
Across the Atlantic, European stock markets posted sharp gains: France’s CAC 40 leaped 1.09%; Germany's DAX jumped 1.11%; Britain's FTSE 100 gained 0.60%; and the EURO STOXX 50 climbed 1.17%.
Earlier in the day, official data showed that the euro zone posted a larger-than-expected trade surplus in September.