US market indexes move higher in early trading; Avanir Pharmaceuticals soars on deal news

Markets Associated Press

U.S. stock indexes are opening slightly higher as the market rebounds from a loss the day before.

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Avanir Pharmaceuticals soared 13 percent after the company agreed to be acquired by Otsuka Pharmaceutical for $3.5 billion in cash.

Royal Caribbean rose 4 percent after the company was added to the Standard & Poor's 500 index, replacing the packaging maker Bemis.

The Dow Jones industrial average rose 46 points, or 0.3 percent, to 17,823 as of 9:35 a.m. Eastern time Tuesday.

The S&P 500 rose four points, or 0.2 percent, to 2,057. The Nasdaq composite rose 11 points, or 0.2 percent, to 4,738.

The price of crude oil fell $1.12 to $67.89 a barrel in New York.

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Bond prices fell. The yield on the 10-year Treasury note rose to 2.27 percent.