US Close 22 Mar 16: Markets slightly higher, Apple events and takeovers in focus

US sharemarkets reversed early losses to trade modestly higher in afternoon trade. Shares in Starwood Hotels & Resorts rose by 4.4% after rival Marriott increased its offer for the owner of the Sheraton hotel chain. After being down 51 points and up as much as 42 points, the Dow Jones ended higher by 22 points or 0.1%. The S&P 500 index rose by 0.1% while the Nasdaq ended higher by 13 points or 0.3%.

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