US stocks edge higher, as health care stocks gain on Mylan's $29 billion bid for Perrigo

Markets Associated Press

U.S. stocks are closing slightly higher as health care stocks gained after the latest deal in the industry was announced.

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Investors were also assessing minutes released Wednesday from the Federal Reserve's latest policy meeting.

The Dow Jones industrial average rose 27 points, or 0.2 percent, to 17,902 Wednesday.

The Standard & Poor's 500 index increased five points, or 0.3 percent, to 2,081. The Nasdaq composite rose 40 points, or 0.8 percent, to 4,950.

Perrigo jumped 18 percent after another drugmaker, Mylan, offered to buy the company for about $29 billion.

The price of oil fell $3.56 to close at $50.42 a barrel in New York.

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Bond prices didn't move much. The yield on the 10-year Treasury note edged up to 1.90 percent.