In merger and acquisition announcements, Xerox Corp. reported that it will acquire Affiliated Computer Services in a transaction valued at $6.4 billion. Also, Abbott Laboratories announced it will buy the pharmaceutical unit of Belgium-based Solvay for about 4.5 billion euros or $6.6 billion in cash.
The Dow Jones Industrial Average jumped 124 points (1.3%) to close at 9,789, the S&P 500 Index gained 19 points (1.8%) to 1,063, and the Nasdaq Composite climbed 40 points (1.9%) to 2,131. Crude oil rose $0.82 to $66.84 per barrel, while the Bloomberg gold spot price lost $1.40 to $989.60 per ounce.
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