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NEW YORK, May 10 (UPI) -- U.S. stock indexes closed up Tuesday, lifted by Microsoft's $8.3 billion acquisition of software communication leader Skype. The Dow Jones industrial average closed at 12,760.36 points, up 75.68, or 0.60 percent.
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The Nasdaq composite added 28.64 points, to close at 2,871.89, up 1.01 percent.
The Standard & Poor's 500 gained 10.87 points, or 0.81 percent, to end the session at 1,357.16.
Stocks started in positive territory at the news of the Microsoft deal and stayed there. The company said its $8.5 billion buyout will boost products including Xbox, Kinect and Windows Phone.
"M&A [merger & acquisition] as an important force underlying the equities markets cannot be underestimated," Michael Purves, chief market strategist at BGC Financial, told The Wall Street Journal reported.
In addition, Purves said, "You haven't had any earnings disasters" during the earnings season drawing to a close.
The listed volume on the NYSE was 4.22 billion shares.
The 10-year treasury note closed at 3.21 percent.
The euro was trading at $1.4403, up from Monday's $1.4358. Against the yen, the dollar was 80.87, compared with Monday's 80.24 yen.
In London, the FTSE 100 closed at 6,018.89, up 76.20, or 1.28 percent.
In Tokyo, the Nikkei average closed at 9,818.76, a gain of 24.38 points, or 0.25 percent.
