US stocks move higher; Dollar General jumps

August 18, 2014 - 3:35 PM
Financial Markets

FILE - This July 16, 2013, file photo, shows a Wall Street street sign outside the New York Stock Exchange in New York. European stocks bounced back Monday, Aug. 18, 2014, from Ukraine-related concerns that had caused sharp selling a week earlier. Wall Street was expected to open higher but Asian markets were subdued by further signs of weakness in China's property market. (AP Photo/Mark Lennihan, File)

NEW YORK (AP) — A bidding contest for a discount retailer and easing concerns about Ukraine helped send U.S. stock indexes higher.

The Dow Jones industrial average rose 175 points, or 1.1 percent, to close at 16,838 Monday.

The Standard & Poor's 500 index rose 16 points, or 0.9 percent, to 1,971.

The Nasdaq composite gained 43 points, or 1 percent, to 4,508.

Dollar General jumped 12 percent after the company made a bid to buy Family Dollar. The company is hoping to beat out a rival bid from Dollar Tree.

Airline stocks rose as the price of oil fell, which could mean lower costs for jet fuel. United Continental and American Airlines each climbed 4 percent.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.39 percent.