S&P 500 trades above 2,000 points for first time

Staff Writer
Columbus CEO

NEW YORK (AP) — Stocks are moving higher in midday 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.

On Monday the market was moving higher as investors were encouraged by the latest round of corporate deals.

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

The S&P 500 index rose 13 points, or 0.7 percent, to 2,001 of noon Eastern time.

The Dow Jones industrial average rose 116 points, or 0.7 percent, to 17,117. The Nasdaq composite rose 29 points, or 0.6 percent, to 4,567.