United States stocks rose on Tuesday as merger activity suggested the market could offer investors more value even as the S&P 500 and Dow industrials hover near five-year highs.
Reuters reported on Tuesday, that equities have resisted a pullback as investors use dips in stocks as buying opportunities.
The S&P has gained about seven per cent so far in 2013 and has climbed for the past seven weeks in its longest weekly winning streak since January 2011, though most of the weekly gains have been slim.
Office Depot Incorporated surged by 9.4 per cent to $5, pulling back from earlier highs after a person familiar with the matter said the US office supply retailer was in advanced talks to merge with smaller rival OfficeMax Incorporated. A deal could come as early as this week.