(Reuters) - U.S. stocks jumped more than 1 percent on Tuesday, led by energy shares as oil prices extended their recent rally, while higher-than-expected January car sales also bolstered the advance.
Merger activity also helped, with shares of Office Depot (ODP.O) jumping 21.6 percent to $9.28 after the Wall Street Journal reported the retailer was in advanced talks to merge with Staples Inc (SPLS.O). Staples shares gained 10.9 percent to $19.01.
The S&P 500 has gained 2.8 percent over two sessions as the bounceback in oil prices and hopes of a Greek debt deal eased some concerns about the global economy, but the index has been locked in a trading range of 1,972 to 2,093 since mid-December and is nearly flat since Dec. 31.
Merger activity also helped, with shares of Office Depot (ODP.O) jumping 21.6 percent to $9.28 after the Wall Street Journal reported the retailer was in advanced talks to merge with Staples Inc (SPLS.O). Staples shares gained 10.9 percent to $19.01.
The S&P 500 has gained 2.8 percent over two sessions as the bounceback in oil prices and hopes of a Greek debt deal eased some concerns about the global economy, but the index has been locked in a trading range of 1,972 to 2,093 since mid-December and is nearly flat since Dec. 31.