US indexes at all-time highs; Pinnacle Foods soars

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Associated Press

Posted on May 12, 2014 at 10:00 AM

Updated Monday, May 12 at 10:02 AM

NEW YORK (AP) — Stocks are opening higher on Wall Street, sending major indexes to their latest all-time highs.

Pinnacle Foods surged 15 percent after the company agreed to be acquired by Hillshire Brands. Pinnacle's brands include Duncan Hines and Aunt Jemima, while Hillshire makes Jimmy Dean and Sara Lee products.

The Dow Jones industrial average rose 99 points, or 0.6 percent, to 16,680 in the first few minutes of trading Monday.

The Standard & Poor's 500 index rose 12 points, or 0.7 percent, to 1,890.

The Nasdaq composite rose 40 points, or 1 percent, to 4,114.

The Dow and S&P 500 are at all-time highs.

European markets were higher. Germany's DAX rose 1.3 percent.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.64 percent.

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