NEW YORK (AP) — A flurry of corporate deals is helping to lift the stock market out of its rut.
Stocks rose on Monday after Wendy’s/Arby’s Group said it would sell control of its Arby’s business to a private equity firm. VF Corp., whose brands include Wrangler and The North Face, also said it would buy boot maker Timberland for more than $2.2 billion.
The deals gave investors some much-needed confidence. In early trading, the Dow Jones industrial average is up 43, or 0.4 percent, at 11,996. The Standard & Poor’s 500 is up 4, or 0.3 percent, at 1,275. The Nasdaq is up 8, or 0.3 percent, at 2,652.
Weak economic news has sent stocks lower for six straight weeks. On Friday, the Dow fell below 12,000 for the first time since March.
