Late push leaves US stocks higher

Stocks ended a choppy day mostly higher as investors balanced enthusiasm over a possible merger in the health care industry with bad news from Bank of America.

The Dow Jones industrial average rose 87 points to close at 16,448
The Dow Jones industrial average rose 87 points to close at 16,448

The Dow Jones industrial average rose 87 points, or 0.5%, to close at 16,448 tonight.

The Standard & Poor's 500 index rose six points, or 0.3%, to 1,869. The Nasdaq composite edged down a point to 4,074. The index erased most of a 61-point loss.

Pfizer rose 4% after renewing its push to buy rival drugmaker AstraZeneca.

Bank of America slid 6% after a financial error forced the bank to suspend plans to increase its dividend and buy back more of its stock.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.70%.