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NEW YORK (AP) -- U.S. stocks rose to the edge of their all-time high on Monday after a couple buyout announcements helped lift the market.
The S&P 500 climbed 0.7% and pulled within 0.3% of its record, which was set during the summer. The Dow Jones Industrial Average added 90 points, or 0.2%, while the Nasdaq composite rallied 1.1% to set its own record.
PTC helped lead the market after leaping 33.5%. Schneider Electric of France said it would pay $205 in cash for each of the software company's shares in a deal valuing it at about $22.6 billion.
The proposed deal helped lift prices for other stocks in the software industry, and Autodesk rose 4.5%.
All told, the S&P 500 rose 51.23 points to 7,773.95. The Dow Jones Industrial Average added 90.94 to 51,267.90, and the Nasdaq composite climbed 286.45 to 27,477.31.