US stocks edge higher

US stocks managed modest gains today as investors saw a series of corporate acquisitions as a chance to pick up bargains in an otherwise difficult market. Another record high for oil prices muted the gains.

US stocks edge higher

US stocks managed modest gains today as investors saw a series of corporate acquisitions as a chance to pick up bargains in an otherwise difficult market. Another record high for oil prices muted the gains.

General Electric’s US$1.6bn (€1.3bn) investment in a Turkish bank and Johnson Controls’s takeover of York International assured investors that corporate America is still willing to spend money to expand, even in uncertain economic times.

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