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MARKET SNAPSHOT: U.S. Stocks Get A Lift From Retail Sales, Deals

By Kate Gibson NEW YORK (MarketWatch) -- U.S. stocks on Monday climbed for the first session in three after retail sales for October proved better than expected and equipment maker Caterpillar Inc. made a big move on the M&A front. "Retail sales were decent, and talk of a double dip is gone. We haven't heard that in six to eight weeks now," said Jay Suskind, senior vice president at Duncan-Williams Inc. The Dow Jones Industrial Average (DJI) climbed 71.98 points, or 0.6%, to 11,264.56 with 24 of its 30 components trading higher. The blue-chip benchmark closed Friday at its lowest level since Nov. 2. The S&P 500 Index (SPX) added 6.1 points, or 0.5%, to 1,205.31, with the financial sector ranking as the best performing of its 10 industry groups and technology as the weakest. Regional banks were among the notable risers, with shares of Fifth Third Bancorp (FITB) and Zions Bancorp (ZION) both up 3%. The Nasdaq Composite Index (RIXF) gained 6.56 points, or 0.3%, to 2,524.77. The Commerce Department reported that retail sales climbed 1.2% last month on increased appetite for automobiles. . Another report had manufacturing in the New York region contracting in November for the first time in more than a year. Merger Monday Construction-machinery giant Caterpillar (CAT) said it would pay $7.6 billion in cash for mining-equipment maker Bucyrus International Inc. (BUCY). . "The Caterpillar deal ... is important in the sense of does Caterpillar think we'll continue to see commodities go to the moon here, and they are at least bullish on economic growth," said Suskind. On Monday, commodities and the U.S. dollar gained along with equities, with gold futures trading up fractionally to about $1,370 an ounce and crude-oil futures moving back above $85 a barrel on the New York Mercantile Exchange. The dollar index (DXY) was recently at 78.525m, up from 78.106 late Friday. Caterpillar wasn't alone on the acquisition front, with data-storage company EMC Corp. (EMC) saying it would buy Isilon Systems Inc. (ISLN) for $2.25 billion. On the earnings front, Lowe's Cos. (LOW) reported an increase in third-quarter profit, but the home-improvement retailer cut its full-year earnings forecast. . After the close, retailers Urban Outfitters Inc.(URBN) and Nordstrom Inc. (JWN) are both scheduled to report their quarterly results. For every stock falling, nearly two rose on the New York Stock Exchange, where 344 million shares traded as of 12:40 p.m. Eastern.

Stock News for Bucyrus (BUCY)
DateTimeHeadline
06/08/201112:53:41Caterpillar Lifts Dividend 4.5% At About $52 Million Annual Cost
05/26/201116:30:02Caterpillar Avoids Issuing Shares for Bucyrus; Uses Cash
05/20/201119:58:26US Antitrust Regulators Clear Caterpillar Takeover Of Bucyrus
05/05/201103:49:41EU Clears Caterpillar To Buy US Mining Equipment Maker Bucyrus
04/29/201108:37:10Caterpillar 1Q Profit, Sales Surge; Results Top Views
04/20/201118:11:01Terex 1Q Profit Down 98% On Prior-Year Gain; Sales Jump
03/26/201113:26:13Terex Corp CEO Not Sold On Sale Prices For Companies
02/18/201104:33:25Bucyrus 4Q Net Profit Up 60% With Help From Acquisition
01/20/201107:06:09DOJ Seeks Information On Caterpillar's Proposed Bucyrus Buyout
12/30/201007:00:06Industrial Cos See Acquisitions As Hedge Against Slower '11 Growth
11/15/201017:21:03MARKET SNAPSHOT: U.S. Stocks Hit As Treasury Yields Rise
11/15/201015:32:51MARKET SNAPSHOT: U.S. Stocks Lifted By Retail Sales, Mergers
11/15/201013:03:36MARKET SNAPSHOT: U.S. Stocks Get A Lift From Retail Sales, Deals
11/15/201010:12:43MARKET SNAPSHOT: U.S. Stocks Lifted By Retail Sales, Irish Hopes
11/15/201008:34:36Caterpillar To Buy Mining-Equipment Company Bucyrus For $7.6...
10/05/201015:35:13Terex Announces $600 Million Debt Tender As Credit Line Amended
08/25/201015:12:34US Export-Import Bank Clears Loan To India Power Plant
07/14/201016:32:10Bucyrus Gets Ex-Im Bank's Support For India Coal Project
02/19/201019:52:29Terex Takes Leading Stake In Bucyrus After Equipment Sale
02/09/201012:23:07U.S. Industrials Looking Better To Morgan Stanley Analysts

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