Stock markets traded higher, reflecting upbeat economic data, strong sales report from Wal-Mart Stores as well as merger-and-acqusition news. The discount retailer rose 2.3% after reporting April same-store sales growth of 6.8%, beating forecasts. Boeing agreed to buy aircraft parts supplier Aviall Inc. for $1.7 billion in cash, while Internet service provider Level 3 agreed to buy telecommunications company TelCove Inc. for about $1.08 billion.
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