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The Canadian Press - ONLINE EDITION

Standard & Poor's 500 hits 2,000 points for the first time, then edges back; Burger King soars

NEW YORK, N.Y. - The stock market hit another milestone as the Standard & Poor's 500 index briefly traded above 2,000 points for the first time.

The S&P 500 first closed above 1,000 points in February 1998.

On Monday the market rose as investors were encouraged by the latest round of corporate deal news.

Burger King soared 20 per cent on news that the fast-food chain is in talks to buy Tim Hortons of Canada, which could save the company money on taxes.

The S&P 500 rose nine points, or 0.5 per cent, to close at 1,997.

The Dow Jones industrial average rose 75 points, or 0.4 per cent, to 17,076. The Nasdaq composite rose 18 points, or 0.4 per cent, to 4,557.

Bond price rose. The yield on the 10-year Treasury note fell to 2.39 per cent.

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