Declining oil prices and encouraging corporate profits helped the US market to trade in positive territory in the first hour. Dow Jones industrial average gained 0.36 percent or 45.18 points to trade at 12,425.03, and the Nasdaq Stock Market Inc. composite index added 0.06 percent or 1.83 points to trade at 2,782.22. The Standard & Poor's 500 index was up 0.26 percent or 3.45 points to trade at 1,331.62.
Hot Stocks: JPM, TYC, WMT, ENDP, LVLT, AAPL
Top executives of JP Morgan Chase & Co. (NYSE: JPM) are accused of cheating their clients in investment company Sigma's collapse. Shares of the company gained 0.70 percent or 33 cents to $47.17.
Shares of Tyco International, Ltd. (NYSE: TYC) added 3.92 percent or $1.85 to $49 amid reports that Schneider Electric SA is weighing a takeover offer from the former.
Wal-Mart Stores Inc (NYSE: WMT) shares 0.30 percent or 18 cents to $52.72 as the company announces to add 11 percent more products on an average to help reverse its sales slump in the US.
Endo Pharmaceuticals Holdings Inc (Nasdaq: ENDP) plans to acquire American Medical Systems for nearly $2.6 billion in cash. Shares of the company gained 5.75 percent or $2.35 to $43.20.
Level 3 Communications, Inc (Nasdaq: LVLT) shares jumped 11.46 percent or 16 cents to $1.605 as the company agreed to acquire smaller rival Global Crossing Limited for nearly $1.9 billion.
Apple Inc (Nasdaq: AAPL) shares lost 0.58 percent or $2.09 to $332.97 as technology research firm Gartner Inc predicts that the former's iPad tablet will control more than three-fifths of the market in 2011.