Stocks Climb On Bank Reform, Deals
Stocks have extended their rally into a third week as investors sent bank stocks higher following new global regulatory requirements and China's economy continued its robust growth.
A round of corporate dealmaking Monday has also given stocks a lift. Hewlett-Packard says it will buy ArcSight. Dollar Thrifty says it accepted Hertz's acquisition offer.
Global regulators have agreed to new reserve requirements for banks.
The Dow Jones industrial average has risen 81, or 0.8 percent, to 10,544. The S&P 500 has risen 12, or 1.1 percent, to 1,122, while the Nasdaq composite has risen 43, or 1.9 percent, to 2,286.
More than three stocks rose for every one that fell on the New York Stock Exchange where volume reached 891 million shares.
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