Stocks Start May on Positive Note
Shares of Chinese food chain P.F. Chang's China Bistro(PFCB) jumped nearly 30% after it agreed to be acquired by a private equity firm for a 30% premium. The restaurant said first quarter profit fell more than 40%.
In commodity markets, the June crude oil contract rose $1.13 at $106 a barrel. June gold futures dipped $1.80 to settle at $1,662.40 an ounce.
The benchmark 10-year Treasury was down 8/32, lifting the yield to 1.948%. The dollar traded sideways.
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-- Written by Andrea Tse and Shanthi Bharatwaj in New York.
>To contact the writer of this article, click here: Andrea Tse.