Traders gather at a post on the floor of the New York Stock Exchange on Aug. 27, 2013.
(Photo: Richard Drew, AP)
NEW YORK (AP) - The stock market is back at a record high 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.
Check out some of our most read stories from 2013:
#shortyellows: Florida quietly shortened yellow lights
Terrorism Warning: Memo says terrorists practicing dry-runs on Florida flights
Kittens shot: Officer shoots kittens in front of children
Courtroom apology: Woman apologizes for flipping off judge
Weird ice: Strange, giant circles appear on frozen pond
Controversial Club: College student organizes "White Student Union"
CFO Trouble: School administrative chief in trouble over her porn sex blog
Warning Shot Wife: Mother gets 20 years for firing warning shots at abusive husband
Science Arrest: Teen girl arrested over science project explosion
Wait, WHAT?? Dog shoots man in the leg with a handgun
Popular photo galleries:
Faces of Meth: Devastating before and after photos of meth abusers
Travon Martin Shooting: Trayvon Martin crime scene photos and George Zimmerman injury photos
Hooters Winners: Winners of the 2013 Hooters swimsuit pageant
Rejected: Funny Florida license plates rejected by the DMV***warning graphic***
Deadly sinkhole: Home collapses, man dies in giant sinkhole
Florida Sex Offenders: Look up sex offenders in any Florida neighborhood here
Restaurant Inspections: Look up inspection reports for any Florida restaurant here
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)