MARKET SNAPSHOT: Dow Flirts With 100-point Gain As U.S. Stocks Advance

By Victor Reklaitis and Barbara Kollmeyer, MarketWatch

NEW YORK (MarketWatch) -- U.S. stocks stepped higher Tuesday, building on the prior session's solid gains that came as rate-hike worries faded.

No top-tier economic reports are scheduled, but mergers-and-acquisitions news underpinned the market's move higher, with FedEx Corp. (FDX) among the S&P 500's biggest advancers after the shipping giant said it would buy a Dutch logistics company TNT Express.

The S&P 500 (SPX) was last up five points, or 0.3%, to 2,086, with health care (XLV) and energy (XLE) faring best among the index's 10 sectors. Energy-related stocks rose along with oil prices (CLK5).

Meanwhile, the Dow Jones Industrial Average (DJI) was last up 73 points, or 0.4%, to 17,953, after the blue-chip gauge briefly showed a gain of more than 100 points. The tech-heavy Nasdaq Composite (RIXF) tacked on 23 points, or 0.5%, to 4,940, aided by gains in biotech stocks (IBB).

The Dow closed higher by nearly 120 points on Monday as U.S. stocks rallied (http://www.marketwatch.com/story/us-stocks-futures-tumble-after-jobs-data-triggers-corporate-profit-worries-2015-04-06), helped by a belief among market observers that last Friday's weak jobs report could mean a slower pace of rate rises than previously expected. New York Federal Reserve President William Dudley also provided a lift as he reiterated on Monday that any decision to hike interest rates will be data dependent.

The latest stock run-up should be accompanied by a dose of wariness, according to some market experts. The monthly average for job creation in 2015 is still above 200,000 so far, and the dismal March report could see a revision when next month's data are published, Stan Shamu, market strategist with IG, said in a note.

"As far as the Fed is concerned, it is unlikely that one month's data will make all the difference, and we know the central bank only has to be reasonably confident that inflation and jobs will trend toward target over the next couple of years for it to act," Shamu said.

Among chart watchers, BTIG's Katie Stockton said her team is "not convinced that the pullback has fully matured yet." A breakout above "intraday resistance" near 2,089 by the S&P 500 "would be an 'all-clear' signal," said Stockton, BTIG's chief technical strategist, in a note Tuesday. The S&P scored a record close on March 2, but has since held below that level for five weeks.

Tuesday's economic news:Job openings rose to a 14-year high (http://www.marketwatch.com/story/job-openings-rise-to-14-year-high-in-february-2015-04-07) of 5.13 million in February, the Labor Department said.

Before the market's open, Minnesota Fed President Narayana Kocherlakota, a leading dove and nonvoting member, said in a speech that no rate hikes are needed until 2016's second half (http://www.marketwatch.com/story/no-fed-rate-hike-needed-until-second-half-of-2016-kocherlakota-2015-04-07).

Individual movers: Shares of FedEx Corp (http://www.marketwatch.com/story/fedex-to-buy-tnt-express-for-48-billion-in-cash-2015-04-07).(FDX) climbed after the company announced a $4.8 billion deal to buy TNT Express NL (TNTEY).

In what could be the biggest U.S. leveraged buyout of the year so far, Informatica Corp.(INFA) is nearing a deal to be taken private (http://www.marketwatch.com/story/informatica-poised-to-be-taken-private-in-5-billion-deal-2015-04-07) by Permira Advisors LLC and the Canada Pension Plan Investment Board.

Read more about Tuesday's jumpiest stocks in the Movers & Shakers column (http://www.marketwatch.com/story/dave-busters-international-speedway-earnings-in-focus-2015-04-07)

Other markets:Oil rose, erasing early losses (http://www.marketwatch.com/story/oil-eases-with-us-stockpiles-production-back-in-focus-2015-04-07) and adding to Monday's big advance. Gold prices ()(GCK5) fell after a gain on Monday, while the dollar (DXY) was pushing higher against major rivals (http://www.marketwatch.com/story/us-dollar-bides-time-while-aussie-jumps-after-rba-holds-steady-2015-04-07).

In a catch-up move as investors returned from a long holiday weekend, European stocks (http://www.wsj.com/articles/permira-cppib-poised-to-take-informatica-private-in-5-billion-deal-1428398039) finished with gains. Asian stock markets closed mostly higher (http://www.marketwatch.com/story/asian-shares-mostly-higher-following-wall-street-gain-2015-04-06).

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