NEW YORK (AP) — A handful of deals helped nudge the stock market up in early trading Monday, despite a disappointing report on the economy.
Amgen surged 8 percent, the biggest gain in the Standard & Poor's 500 index, after the biotech giant said it plans to buy Onyx Pharmaceuticals for $10.4 billion. The deal, announced late Sunday, would give Amgen three approved cancer treatments and several others in clinical trials.
The S&P 500 index was up three points, or 0.2 percent, to 1,666 after the first hour of trading. Health-care companies led six of the 10 industry sectors in the S&P 500 slightly higher.
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