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Thursday 2 October 2014

US stock market hits record highs

Published 10/06/2014 | 05:33

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Trader Luigi Muccitelli, left, works on the floor of the New York Stock Exchange (AP)

The US stock market has crept to another record high after top companies announced another handful of deals.

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The Standard & Poor's 500 index rose 1.8 points, or 0.1%, to close at an all-time high of 1,951.

The Dow Jones industrial average nudged up 18 points, or 0.1%, to 16,943. The Nasdaq gained 14 points, or 0.3%, to 4,336.

Hillshire Brands jumped 5% after Tyson Foods won a bidding war for the maker of Jimmy Dean sausages.

Family Dollar's stock jumped 13% following news that investor Carl Icahn has taken a stake in the discount retailer.

The drug company Merck announced a deal to buy Idenix Pharmaceuticals, boosting Idenix's stock by 229%.

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