Wall Street lifted by Groupon and ADT shares rise

http://www.bbc.co.uk/news/business-35580382

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Wall Street stocks closed higher on Tuesday with technology stocks seeing some of the largest gains.

The Dow Jones industrial average rose 218.25 points, or 1.39%, to 16,192.09.

The S&P 500 jumped 30.57, or 1.65% to 1,895.35, while the Nasdaq climbed 98.44, or 2.27% to 4,435.96.

Despite an announcement from several oil producing nations that they would consider freezing production, oil price fell on Tuesday. Brent crude dropped 3.4%, while US crude fell 2.1%.

Russia, Saudi Arabia, Qatar and Venezuela agreed to maintain output at January levels if other oil producing countries did the same.

The announcement marked the first move between Opec and non-Opec producers to stem the price fall since the price of oil began to slide nearly 19 months ago.

ExxonMobil rose 0.23% and Apache gained 2.6%, while oil services giant Halliburton advanced 2.8%.

Wall Street's big winners were security firm ADT and deal site Groupon.

Shares in ADT closed nearly 50% higher after private equity firm Apollo Global Management agreed to buy the electronic security company $7bn.

Groupon rose 41% after e-commerce giant Alibaba disclosed a stake of 32.9 million shares after the market closed on Friday, making it the fourth-largest shareholder.

Apple and Amazon shares both rose 2.8%.

Apple announced earlier in the day that it planned to sell up to $12bn in corporate bonds.

Wall Street was closed on Monday for the Presidents' Day holiday.