US Stocks Reach Highest Levels in One and Half Yrs

The Dow and S&P 500 hit a new high in one and half years on Monday, as positive earnings and deal- making news further boosted sentiment.

The Dow Jones industrial average closed at 12,161.55, rising 86. 66 points, or 0.72 percent. The Standard & Poor's 500 index climbed 8.18 points, or 0.62 percent, to 1,319.05 and the Nasdaq was up 14.69 points or 0.53 percent, to 2,783.99.

With more earnings due out later this week, investors were confident that the market could be pushed even higher. Data showed that more than 70 percent of S&P 500 companies that have reported results so far beat Wall Street estimates.

Meanwhile, a bunch of merger news also boosted the market. Diversified industrial company Danaher Corp agreed to buy medical diagnostics company Beckman Coulter Inc for about 6.8 billion dollars. Oil driller EnsCo Plc said it would buy Pride International Inc for about 7.3 billion dollars.