US stocks inch higher in early trading on fresh deals

2010-03-08 14:41:20 GMT2010-03-08 22:41:20 (Beijing Time) SINA.com

NEW YORK – Stocks are edging higher in early trading after a fresh round of mergers and acquisition activity.

Asian markets surged Monday in their first trading session following an upbeat U.S. jobs report Friday. European markets fell slightly. U.S. stocks rallied last week on encouraging economic data, including a better-than-expected employment report, and a new wave of corporate dealmaking.

The recent surge in corporate mergers and acquisitions continued Monday. Insurer American International Group reached a deal to sell one of its major foreign subsidiaries to MetLife for $15.5 billion.

Major indexes are all up less than 0.1 percent. The Dow Jones industrial average is up 3.70 at 10,569.90. The Standard & Poor's 500 index is up 0.18 at 1,138.87, while the Nasdaq composite index is up 0.31 at 2,326.66.

(Agencies)

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