S&P 500 touches 1,900 for first time

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Associated Press

Posted on May 13, 2014 at 12:00 PM

Updated Tuesday, May 13 at 12:02 PM

NEW YORK (AP) — The Standard & Poor's 500 index has crossed 1,900 for the first time as investors get a lift from corporate deal news.

The S&P 500 edged up less than a point to 1,897 as of 11:53 a.m. Eastern time Tuesday. It climbed as high as 1,902 in early trading. The Dow Jones industrial average rose 17 points, or 0.1 percent, to 16,714. The Nasdaq fell nine points, or 0.2 percent, to 4,134.

Keurig Green Mountain surged $10.80, or 10 percent, to $121.51 after Coca-Cola raised its stake in the coffee company.

Valeant Pharmaceuticals said it will improve its bid to acquire Botox maker Allergan, a day after its previous offer was rejected.

Five of the 10 sectors in the S&P 500 rose, led by consumer staples companies.

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