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Stocks edge higher; Sysco soars on deal news

The stock market returned record territory Monday after big acquisitifood industry as traders hope thbudget deal could be reached Washington.

The stock market returned to record territory Monday after a big acquisition in the food industry and as traders hope that a budget deal could be reached in Washington. | AP file photo

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Updated: December 9, 2013 3:17PM



NEW YORK — The stock market returned to record territory Monday after a big acquisition in the food industry and as traders hope that a budget deal could be reached in Washington.

Sysco, a major food distributor, rose the most in the Standard & Poor’s 500 index Monday after it announced an agreement to buy rival US Foods for $8.2 billion.

Stocks extended a rally from Friday that was driven by a report of solid U.S. job gains last month.

The S&P 500 index edged up three points, or 0.2 percent, to 1,808. That was a point higher than the previous record high it set on Nov. 27.

The Dow Jones industrial average gained five points, or 0.03 percent, to 16,025. The Nasdaq composite rose six points, or 0.2 percent, to 4,068.



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