Stocks Step Up

Indices closed with gains on Tuesday. Pfizer, General Electric, Cisco and Merck led the Dow’s ascent. The S&P 500 hit a five-year high level in the wake of M&A news. Office Depot and OfficeMax stepped up on word that the two office supply retailers have discussed a merger and may announce a deal within the week. Meanwhile, crude oil futures added 69 cents today to settle at $97.10 a barrel. Elsewhere, Dell issued quarterly details after the closing bell. The PC titan said fourth-quarter, non-GAAP earnings hit 40 cents a share on $14.3 billion in revenue. Down 11% year-over-year but up 4% over the previous quarter, the results exceeded expected earnings of 39 cents a share on $14.1 billion in revenue.

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