Stocks Hit 2-week Highs On Merger Monday -- US Commentary

(RTTNews) - U.S. stocks rallied Monday, boosted by a flurry of merger announcements.

The Dow Jones Industrial Average finished 77.18 points, or 0.4%, higher at 18,222.89. The S&P 500 index advanced 10.17 points, or 0.5%, to 2,151.32, led by tech stocks. The Nasdaq Composite Index climbed 52.42 points, or 1%, to 5,309.83.

Each of the major averages posted two-week highs.

Shares of B/E Aerospace (BEAV) moved sharply higher after the company agreed to be acquired by Rockwell Collins (COL) in a deal valued at $6.4 billion.

TD Ameritrade and TD Bank (TD.TO) announced a deal to buy Scottrade. Ameritrade shares slipped 4.4 percent.

Media Time Warner (TWX) also agreed to be bought by AT&T (T) for more than $85 billion. AT&T Shares slipped 1.7 percent.

Genworth Financial (GNW) agreed to be acquired by China Oceanwide Holdings for $2.7 billion.

China's HNA Group is buying a stake in Hilton in $6.5-billion deal.

TMobile (TMUS) shares surged 9.3 percent on strong earnings.

The Federal Reserve is likely to raise short-term interest rates by three quarter-point moves by the end of 2017, said Chicago Fed President Charles Evans Monday.