Stocks are surging -- Dow up 250

Stocks opened higher after four consecutive down days last week marked one of the worst weeks for the market this year.

Near 9:40 a.m. ET, the Dow was up 230 points, the S&P 500 was up 17 points, and the Nasdaq was up 41 points.

It’s a huge day for the biotech industry, with four deals announced before the market opened. Cellular Dynamics, which is being acquired by Fujifilm Holdings, opened over 100% higher, trading around $US16.40 a share.

In economic data out earlier, personal income rose more than expected in February, while spending rose less than expected, and consumer prices increased in-line with estimates.

Expectations were for income to rise 0.3% while spending was expected to increase 0.2%.

Pending home sales are expected at 10 am ET and the latest Dallas Fed manufacturing report comes up at 10:30 am ET.

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