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