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US stocks move higher; Dollar General jumps

By WTOP Staff

NEW YORK (AP) — A bidding contest for a discount retailer and easing concerns about Ukraine helped send U.S. stock indexes higher.

The Dow Jones industrial average rose 175 points, or 1.1 percent, to close at 16,838 Monday.

The Standard & Poor’s 500 index rose 16 points, or 0.9 percent, to 1,971.

The Nasdaq composite gained 43 points, or 1 percent, to 4,508.

Dollar General jumped 12 percent after the company made a bid to buy Family Dollar. The company is hoping to beat out a rival bid from Dollar Tree.

Airline stocks rose as the price of oil fell, which could mean lower costs for jet fuel. United Continental and American Airlines each climbed 4 percent.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.39 percent.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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