Stocks are higher as Kraft Foods acquisition of Cadbury boosts optimism about the economy
The market rose Monday as investors looked past a disappointing profit from Citigroup Inc. and bought health care stocks on hopes that a special election in Massachusetts will take away power from Senate Democrats and make it harder for President Barack Obama to make changes to health care.
The gains come after stocks fell Friday when JPMorgan Chase & Co.’s earnings fell short of expectations. The Dow Jones industrial average lost 100 points, its steepest slide of 2010. U.S. markets were closed Monday for Martin Luther King Jr. Day.
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Stocks are higher on positive economic data ahead of Fed decision
Stocks are rising in early trading following a benign reading on consumer inflation and a rebound in housing starts last month.
Consumer prices excluding food and energy were flat in November, signaling that inflation isn’t rising through the economy. It was the first time that “core” inflation was unchanged after 10 monthly increases.
Meanwhile the Commerce Department said construction of new homes and apartments rose 8.9 percent last month.