Stocks opened modestly higher, with investors eyeing an $8 billion acquisition bid in the airline sector and awaiting minutes from the Federal Reserve''s meeting last month. Significant strength emerged in the airline sector after US Airways offered to acquire Delta Air Lines for $8 billion in cash and stock. Shares of U.S. Airways climbed 8%. AirTran surged 19% and JetBlue rose 9%, turning in two of the sector''s best performances.
The euro bought $1.2825 in morning European trading, compared with $1.2823 in New York late Tuesday. The British pound slipped to $1.8956 from $1.8971. The dollar rose to 117.84 Japanese yen from 117.54 yen.
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