US stocks start week at new highs on deals and earnings

NEW YORK (AP) — Stocks are breaking records again Tuesday as the market resumed its climb after a holiday break.

Consumer goods giant Kraft Heinz is falling after it withdrew a $143 billion offer for competition Unilever, but several other food and household goods makers are rising as investors bet Kraft will make an offer for one of those companies instead.

Big packaged food companies have been trying hard to cut costs and find new markets, and analysts and investors think Kraft Heinz is still interested in buying another food or consumer goods company.

Jam maker J.M. Smucker added $6.19, or 4.6 percent, to $142.14 and Oreo maker Mondelez climbed $1.87, or 4.4 percent, to $44.37 as investors liked what they heard following a food industry analyst meeting.

Benchmark U.S. crude oil jumped $1, or 1.9 percent, to $54.40 per barrel in New York.

Wal-Mart jumped $2.10, or 3 percent, to $71.47 after the company said its online business surged in the fourth quarter and it reported more business in the U.S. during the holiday season.

Wal-Mart's profit fell as it spent more money on its e-commerce operations and its stores, but investors have been hoping the company's online sales would take off.

Scripps Networks, the parent of Food Network, Travel Channel and HGTV, climbed after it reported better ratings and stronger ad sales.