S&P hits two-week high on strong earnings; M&A supports

By Rodrigo Campos NEW YORK - (Reuters) - The S&P 500 hit a two-week high on Monday on the back of strong earnings, while a flurry of acquisitions indicated corporate America continues to see untapped value in the market. Annualised third-quarter earnings from S&P 500 components are expected to have risen 1.1 percent last quarter, following four quarters of contraction, according to Thomson Reuters I/B/E/S data. "Consensus is earnings are going to continue to improve in part due to favour