US investors return from Labor Day in a buying mood
NEW YORK (AP) — U.S. stocks are opening solidly higher as traders come back from the Labor Day holiday.
Markets also rose Tuesday in Europe and China.
Several companies were making big moves following deal news.
Meredith jumped 11 percent after agreeing to be acquired by fellow media company Media General, and Teco Energy soared 22 percent after agreeing to be bought by Emera, a Canadian energy company.
The Dow Jones industrial average gained 285 points, or 1.8 percent, to 16,385 early Tuesday. That made up the loss it had on Friday.
The Standard & Poor's 500 index rose 34 points, or 1.8 percent, to 1,955. The Nasdaq composite rose 90 points, or 2 percent, to 4,775.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.