Tuesday, August 26, 2014
NEW YORK (AP) — Stocks are opening higher as investors welcomed the latest corporate deal news, sending the Standard & Poor's 500 index back above 2,000.
The Dow Jones industrial average rose 33 points, or 0.2 percent, to 17,110 as of 9:37 a.m. Tuesday.
The S&P 500 rose two points, or 0.1 percent, to 2,000. The Nasdaq composite index rose seven points, or 0.2 percent, to 4,564.
Amazon rose 1 percent after saying that it would buy Twitch, a video streaming company. Burger King rose 2 percent after confirming that it would buy Tim Hortons of Canada.
Best Buy slumped 5 percent after profits plunged at the consumer electronics store chain as more customers buy products online.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.37 percent.