NEW YORK (CNNMoney)
U.S. stocks climbed to all-time highs after the opening bell, highlighted by the S&P 500 conquering the 1900 threshold for the first time on record.
The Dow Jones industrial average and the S&P 500 opened slightly higher, while the Nasdaq bounced between gains and losses.
But the early enthusiasm was muted a bit by an economic report that showed consumer spending slowed in April. Despite warmer weather in the Spring, consumers didn't open up their wallets in April as much as Wall Street had been hoping. U.S. retail sales inched up just 0.1% last month, trailing forecasts for a 0.4% rise.
At the stock level, investors continue to see many power plays. They guzzled down shares of Keurig Green Mountain (GMCR), which soared 7% after Coca-Cola (KO, Fortune 500) announced plans to boost its stake in the company to 16%. The move represents a vote of confidence from the world's largest beverage maker and follows an initial 10% stake acquired in February.
The Coke buy also lifted shares of Sodastream International (SODA), which is often rumored to be taken over by a large beverage company.
Related: Fear & Greed Index
The earnings front is largely quiet, but Fossil, (FOSL) McKesson (MCK, Fortune 500) and Take-Two Interactive (TTWO) are on tap to report results after the closing bell.
Shares of DirecTV (DTV, Fortune 500) rallied 2% on reports that AT&T (T, Fortune 500) could quickly clinch a $50 billion bid to buy the satellite TV company. Rival DISH Network (DISH, Fortune 500)was the worst performer in the Nasdaq 100 Tuesday morning, losing about 3%.
Other Nasdaq stocks struggling in early action include Vodafone (VOD), Whole Foods (WFM, Fortune 500) and Netflix (NFLX).
Mergers and acquistions continue to drive a lot of the upbeat cheer on Wall Street. Valeant Pharmaceuticals (VRX) signaled plans to raise its $46 billion offer to acquire Allergan (AGN, Fortune 500), which the Botox maker formally rejected on Monday.
Investors will also be focusing on developments in the pharmaceutical industry. The American drug maker Pfizer (PFE, Fortune 500) wants to buy Britain's AstraZeneca (AZN) and both CEOs will appear before a U.K. parliamentary committee to answer questions about the potential takeover.
Related: CNNMoney's Tech30
Almost all European markets were rising in morning trading amid reports that Germany's central bank supports additional stimulus measures from the European Central Bank. Germany's Dax index was making the biggest advance, up by 0.6%
In Asia, India's benchmark Mumbai Sensex index surged to a record high Tuesday after election exit polls indicated that voters will deliver a mandate to Narendra Modi and the pro-business Bharatiya Janata Party.
Most other regional markets ended with gains. The Nikkei in Japan jumped by 2%.
First Published: May 13, 2014: 9:44 AM ET
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