S&P 500 sets all-time high in intraday trading

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Stocks moved higher during Monday trading, pushing the Standard & Poor's 500 index above 2,000 points for the first time.

The S&P 500 first closed above 1,000 points in February 1998. The index breached the 2,000-point barrier soon after markets opened on Monday, nearly hitting 2002 points before slumping back down a few points at midday.

Around noon, the Dow Jones industrial average had jumped 116 points, or 0.7 percent, to 17,117. The Nasdaq composite added 29 points, or 0.6 percent, to 4,567.

The major indexes rose across the board as investors were encouraged by the latest round of corporate deals.

For example, Burger King soared 17 percent on news that the fast-food chain is in talks to buy Canada-based Tim Hortons. The deal could cut Burger King's tax bill if the company moves its headquarters to Canada.

The Dow has jumped 4.4 percent since Aug. 8 in its latest surge. Its all-time high is 17,151.56, set on July 17.


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