Stocks open mostly higher on Wall Street
NEW YORK (AP) — Stocks are mostly higher in early trading as traders hope for another blockbuster merger in the health-care industry.
The Dow Jones industrial average rose 60 points, or 0.4 percent, to 16,421 in the first few minutes of trading Monday.
The Standard & Poor’s 500 index rose four points, or 0.2 percent, to 1,867. The Nasdaq composite fell two points, or 0.1 percent, to 4,073.
Pfizer led other health-care companies higher after the drug maker renewed its push to buy its British rival AstraZeneca. Pfizer rose 3 percent.
Bank of America plunged 5 percent after the Federal Reserve forced the bank to suspend its plans to increase its dividend and buy back more of its own stock.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.68 percent.