U.S. stocks rose, after the Standard & Poor™s 500 Index rebounded from its biggest monthly decline in a year, as oil prices rallied for a fourth day and Staples Inc. and Office Depot Inc. surged on merger speculation.
The S&P 500 added 0.6 percent to 2,032.72 at 12:18 p.m. in New York, paring an earlier advance of as much as 1 percent. The Dow Jones Industrial Average rose 156.39 points, or 0.9 percent, to 17,517.43. The Nasdaq 100 Index was little changed as biotechnology companies slumped. Trading in S&P 500 companies was 35 percent above the 30-day average.
The S&P 500 rebounded 1.3 percent Monday as a rally in crude sparked gains in energy shares. The index lost 3.1 percent in January, the worst performance in a year, after reaching an all-time high on Dec. 29.
Source : Bloomberg