US shares edged up Monday while crude oil prices plummeted below 60 dollars.

Guidant sued Johnson & Johnson to complete the 25.4 billion dollars purchase of Guidant after J&J missed the Nov. 4 deadline for closing the transaction. Guidant, the heart-device maker facing US probes and New York state fraud claims, is seeking an order for J&J to consummate the transaction. Guidant fell 1.40 dollars to 57.52 dollars, while J&J rose 55 cents to 61.43 dollars.

At the close of trading, the blue-chip Dow Jones Industrial Average rose 55.47, or 0.53 percent, to 10,586.23, its highest close since Sept. 16.

Broader stock indicators were also higher. The Standard & Poor's 500 index was up 2.67, or 0.22 percent, at 1,222.81, and the Nasdaq composite index advanced 8.81, or 0.41 percent, to 2,178.24.

Advancing issues led decliners by about 9 to 4 on the New York Stock Exchange, where volume of 1.47 billion shares lagged the 1. 53 billion shares traded on Friday.

New York's main contract, light sweet crude for delivery in December, fell 1.11 dollars to 59.47 dollars per barrel in closing deals, after hitting an intraday low of 58.60 dollars a barrel, the lowest price for a front-month contract since July 26.

Source: Xinhua