U.S. stocks rose on Wednesday after estimate-beating results from technology bellwether Dell and a deal for Sanofi-Aventis to buy Genzyme for $20.1 billion in cash.
French drugmaker Sanofi-Aventis SA
Activist investor Nelson Peltz's Trian Group offered to acquire Family Dollar Stores Inc
The overall climate has been buoyed by the fact that there's credit available to do deals, said Kevin Caron, market strategist at Stifel, Nicolaus & Co in Florham Park, New Jersey. Private equity coffers are very full, and that money is looking to be put out and invested.
The Dow Jones industrial average <.DJI> gained 28.76 points, or 0.24 percent, to 12,255.40. The Standard & Poor's 500 Index <.SPX> rose 4.20 points, or 0.32 percent, to 1,332.21. The Nasdaq Composite Index <.IXIC> added 10.27 points, or 0.37 percent, to 2,814.62.
Trian's bid for Family Dollar helped shares of other discount retailers. Dollar Tree Inc
U.S. stocks slipped off 2-1/2-year highs on Tuesday as U.S. retail sales data cast doubts on a rebound in consumer spending, a vital part of the economic recovery.
(Editing by Jeffrey Benkoe)