Stocks rose on Monday after the release of some encouraging economic data and news of a big acquisition in the semiconductor industry.
The gains were modest, but broad. Eight of the 10 industry sectors in the Standard and Poor’s 500 index ended higher, led by industrial stocks with a gain of 0.4 percent.
The biggest gainer in the S&P 500 was chip designer Altera, the target of a $17 billion cash offer by giant chip-maker Intel. Altera jumped $2.83 to $51.68, a 6 percent gain. Companies have been combining at a rapid clip, helping to boost stocks in the seventh year of the bull market.
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