In corporate news, Clearwire and Sprint Nextel Corp. are planning to merge their wireless broadband units to create a new $14.55 billion wireless communications company. The new company is getting a $3.2 billion investment from Intel Corp., Google Inc., Comcast Corp., Time Warner Cable Inc. and Bright House Networks.
Clearwire rose $1.38, or 8.4 percent, to $17.84, and Sprint rose 40 cents, or 4.4 percent, to $9.59.
Overseas, Japan's stock market rose 0.38 percent. By afternoon trading in Europe, Britain's FTSE index rose 0.69 percent, Germany's DAX index rose 0.98 percent, and France's CAC-40 rose 0.99 percent.
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