NEW YORK, May 3 (UPI) — U.S. markets opened higher Monday after United Airlines and Continental Airlines announced an all-stock merger agreement.
Shares of United Airlines shot up 2.13 percent in early trading. Continental shares rose 1.92 percent.
The Institute of Supply Management also gave investors confidence, as the trade group’s headline manufacturing index rose for the ninth month in April.
In early afternoon trading, the Dow Jones industrial average added 138.91 or 1.26 percent to 11,147.52. The Standard & Poor’s 500 rose 14.78 or 1.25 percent to 1,201.47. The Nasdaq composite index of tech-dominated stock rose 37.40 or 1.52 percent to 2,498.59.
The benchmark 10-year Treasury note fell 12/32 to yield 3.71 percent.
The euro fell to $1.319 from Friday’s $1.3314. Against the yen, the dollar rose to 94.689 yen from Friday’s 93.93 yen.
In Japan, the Nikkei 225 index rose 1.21 percent, 132.61, to 11,057.40.
In Britain, the FTSE 100 index lost 64.55 points, 1.15 percent, to 5,553.29.
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