U.S. stocks continue to rise on Monday afternoon. Corporate mergers and acquisitions news market sentiment improved; as the engine of world economic growth, inflation, China announced in November but did not raise interest rates rise, the market are greatly relieved.
At 12:37 on December 13 EST, the Dow Jones industrial average rose 45.56 points to 11,455.88 points, or 0.40%; the Nasdaq composite index rose 0.84 points to 2,638.38 points, or 0.03%; the S & P 500 Index rose 4.92 points to 1,245.32 points, or 0.40%.
Raw materials and energy sector led the broader market. Dow component Caterpillar (CAT) rose 2%, Disney (DIS) rose 2%, Pfizer (PFE) rose 1.2%.
Dow component, enterprise groups, giant GE (General Electric) was down 0.2%, the company announced plans to spend 1.3 billion acquisition of British Energy equipment manufacturers Wellstream Holdings PLC.Wellstream company mainly produces oil and gas industry-specific hose products. GE said in a statement, this proposed deal would help GE to expand the share of oil and gas industry, especially in the Brazilian market. Wellstream board has said it will recommend shareholders accept the deal.
U.S. stocks opened on Monday, before the Asian and European stock markets generally rose. China on Saturday announced the November CPI rose 5.1% annualized the fastest pace in two years, however, did not announce on Monday the People's Bank of China to raise interest rates. If China hiked interest rates, it means that China's economic growth rate will slow down. People's Bank of China announced on Friday raised the deposit reserve rate, which has been taken within one month of the Bank's third such move.
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