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Market Update

Standard & Poor's 500 index trades above 2,000 points for the first time; Burger King soars

428ff5f04cd08410VgnVCM100000d7c1a8c0____-Financial Markets Wall Street-1.jpg

FILE - In this May 11, 2007, file photo, a Wall Street sign is mounted near the flag-draped facade of the New York Stock Exchange. Global stock markets were mostly higher Monday, Aug. 25, 2014, after top central bankers in Europe and Japan said support for their economies would continue and additional help is possible. Investors are hoping the stock market will pick up steam this week. (AP Photo/Richard Drew, File) (The Associated Press)

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.