Stocks Skyrocket Due To Boost In Materials Sector (POT, BHP, HD, WMT)

US stocks climbed higher on Tuesday following a busy day so far in the materials sector with Potash Corp Saskatchewan POT and Pactiv Corp PTV dominating the headlines. The DJIA is up 142.29 points at 10,444.30, S&P 500 is up 17.25 points at 1,096.63, and the NASDAQ is up 36.29 points at 2,218.16. PTV is up 5.45% at $32.60 following the news of its acquisition by Reynolds Group Holdings Ltd., for $4.6 billion, excluding debt. POT shares are up 24.77% at $139.99 following a failed takeover bid by BHP Billiton BHP. BHP is currently trading at $70.42, down 2.11%. Investors are keenly following this takeover bid, and are expecting more developments. According to Jerome J. Heppelmann, portfolio manager at Old Mutual Focused Fund, POT is likely to see an increase in the bid more than once. Consumer companies also climbed after earnings from two key retail giants boosted hopes that consumer spending may still be helping to support the economic recovery. Home Depot Inc. HD shares are trading at $28.72, up 4.86%. Wal-Mart shares increased 1.96% at $51.40, boosted by strong overseas sales in Brazil, China and Mexico, and an optimistic full-year outlook. Read more from Benzinga's Markets.