By Kate Gibson, MarketWatch
NEW YORK (MarketWatch) -- U.S. stocks began higher on Tuesday
with sentiment bolstered by a round of corporate deals, including
Toronto-Dominion Bank's $6.3 billion acquisition of Chrysler
Financial.
The Dow Jones Industrial Average (DJI) climbed 31.41 points, or
0.3%, to 11,509.54, with 25 of its 30 components on the rise.
The Dow "has made three attempts to close above 11,500 over the
last 10 days and failed each time. That level appears to be a
troublesome technical price resistance points that could prove
stubborn to penetrate this week," noted Fred Dickson, chief
investment strategist at Davidson Companies.
Rising for a fourth consecutive session, the Standard &
Poor's 500 Index (SPX) rose 4.53 points, or 0.4%, to 1,251.61. The
financial sector proved the best performer among the index's 10
industry groups, while consumer staples lagged.
The Nasdaq Composite (RIXF) gained 9.9 points, or 0.4%, to
2,659.52.
For every issue falling about two advanced on the New York Stock
Exchange, where volume approached 127 million at 10 a.m.
Eastern.
Adobe Systems Inc. (ADBE) gained after the graphic software
maker forecast a profit that beat expectations. Jabil Circuit Inc.
(JBL) also climbed after its outlook exceeded Wall Street
projections.
In addition to Toronto-Dominion Bank's (TD) agreement to acquire
the lending arm of auto manufacturer Chrysler, Dutch chemicals
company Royal DSM NV said it plans to purchase biotechnology firm
Martek Biosciences Corp. (MATK) for $1.09 billion.