Stocks open higher; ConAgra Foods jumps on spinoff news
Posted November 18, 2015 6:00 am
Stocks are opening higher as investors are encouraged by some corporate deal news.
ConAgra Foods jumped 5 percent early Wednesday after announcing that it would spin off its frozen potatoes business.
The railroad operator Norfolk Southern climbed 6 percent after receiving an unsolicited offer to be bought out by Canadian Pacific.
The Dow Jones industrial average gained 64 points, or 0.4 percent, to 17,554 as of 9:35 a.m. Eastern time.
The Standard & Poor's 500 index rose seven points, or 0.4 percent, to 2,057. The Nasdaq composite increased 16 points, or 0.3 percent, to 5,002.
The price of oil rose 1 percent to just over $41 a barrel.
Bond prices barely budged. The yield on the 10-year Treasury note was little changed at 2.28 percent.
Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked.
If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.