The Wenatchee World

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Wall Street

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NEW YORK (AP) — A big acquisition in the food industry and hopes for a longer-term budget deal out of Washington nudged stocks back into record territory Monday afternoon. Food distributor Sysco rose the most in the Standard & Poor’s 500 index after it announced an agreement to buy rival US Foods in an $8.2 billion deal.

Stocks extended a rally from Friday that was driven by a report of solid U.S. job gains. That boosted investor confidence that the economy was growing strongly enough to handle any pullback in the Federal Reserve’s economic stimulus.

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