US stocks up sharply at midday

NEW YORK (AP) — Stocks are rallying at midday, powered by two big corporate deals and news that suggests the economy is getting stronger.

As of 12 p.m. Eastern time, the Dow Jones industrial average was up 145 points at 15,901. The Standard & Poor's 500 index climbed 12 points to 1,787. The Nasdaq was higher by 29 points at 4,030. All 10 industry groups in the S&P 500 were higher, led by energy and technology.

LSI Corp. rose after chipmaker Avago Technologies said it was buying the company for $6.6 billion. AIG was up after it announced the sale of its aircraft leasing business for about $5.4 billion. The Federal Reserve said factory production accelerated in November as auto production surged. The gains show manufacturing is strengthening and could help boost economic growth.

Related Headlines

  • US stocks open sharply higher

    The stock market is opening sharply higher after a pair of multibillion-dollar deals and signs of strength in U.S. manufacturing. The Dow Jones industrial average jumped 164 ... 

  • Jonathan Corpina, Peter Giacchi

    US stocks up sharply at close

    Corporate deals and fresh evidence of a stronger economy are giving the stock market a jolt. LSI Corp. rose Monday after chipmaker Avago Technologies said it was buying the ... 

  • Richard Newman

    US stocks rise on signs of stronger economy

    Stocks raced higher after two down weeks, as investors warmed up to the idea that the economy is getting better. Stocks have fallen lately after good economic news as ... 

  • Paul Cosentino, Michael Shearin

    Stocks open higher as investors await Fed decision

    Stocks are edging higher in early trading as investors focus on whether the Federal Reserve will start dialing back its stimulus. The Dow Jones industrial average rose 35 ... 

Find the best rates

Find your future job here