Stocks Closed Mostly Higher

U.S. stocks finished mostly higher on Monday as investors welcomed deal news among telecoms and pharmaceutical companies, as well as stronger-than-expected housing data. The Dow Jones Industrial Average closed 87.28 points, or 0.53% higher at 16,448.74. The S&P 500 ended the day 6.03 points, or 0.32%, higher at 1,869.43. The Nasdaq Composite was down 1.16 points, or 0.03%, at 4,074.40.

More Americans signed contracts to buy existing homes in March, the first increase since June and a sign that the housing market might pick up after a sluggish start to the year.

The National Association of Realtors said Monday that its seasonally adjusted pending home sales index rose 3.4 percent to 97.4 last month. Still, the index remains 7.9 percent below its level a year ago.

The U.S. Treasury expects to pay off $78 billion of debt in the third fiscal quarter, compared to an earlier
projection, given in February, that it would pay off $40 billion, the government said Monday.