US STOCKS-Wall St rebounds on deal activity; Apple up after watch news

lunes 9 de marzo de 2015 16:32 GYT
 

* Alcoa to buy RTI International for $1.5 bln

* Apple shares end up slightly after Apple Watch roll out

* Indexes up: Dow 0.8 pct, S&P 0.4 pct, Nasdaq 0.3 pct (Updates to close)

By Caroline Valetkevitch

NEW YORK, March 9 (Reuters) - U.S. stocks bounced back on Monday, helped by merger and acquisitions activity, while Apple shares ended slightly higher following the long-anticipated rollout of its watch.

Alcoa Inc said it would buy RTI International Metals Inc for $1.5 billion. Separately, Shopping mall owner Simon Property Group offered to buy Macerich Co for $22.4 billion including debt.

Alcoa lost 5.4 percent to $13.70 while RTI jumped 39.3 percent to $38.00. Macerich rose 7 percent to $92.76 and Simon Property was down 0.1 percent at $180.44.

The day's gain came after the S&P 500's biggest drop in almost two months on Friday, when investors bet a stronger-than-expected U.S. jobs report increased chances the Federal Reserve could raise interest rates sooner.

"We're seeing a little bit of a snapback from Friday's reaction to the jobs report. We're seeing a little of that reversion-to-the-mean trade," said Larry Peruzzi, senior equity trader at Cabrera Capital Markets Inc in Boston.   Continuación...