Major Wall Street indices rose on Monday driven by the tech sector, with mood boosted by signs of progress in developing a vaccine for Covid-19 and a series of multi-million dollar corporate deals.
The Dow Jones Industrial Average rose 1.18% to 27,993.33 units, while the S&P 500 advanced 1.27% to 3,383.54 units. The NASDAQ, meanwhile, gained 1.87%, to 11,056.65 units.
Pharmaceutical AstraZeneca resumed clinical trials in the United Kingdom of its vaccine for Covid-19, one of the most advanced in development.
In addition, Pfizer shares rose after drugmaker and German biotech company BioNTech SE proposed expanding its pivotal phase 3 Covid-19 vaccine trial to about 44,000 participants.
“The market loves anything tied to a vaccine … we will see more and more headlines on the subject in the future,” said Tim Ghriskey, chief investment strategist at Inverness Counsel.
Nvidia has jumped on plans to buy chipmaker Arm from SoftBank, in a transaction of up to $ 40 billion that could reshape the semiconductor industry.
Oracle also won heavily after saying it will partner with China’s ByteDance to keep TikTok operating in the United States, defeating Microsoft in a deal structured as a partnership rather than a sale.
US stocks are emerging from two weeks of losses. Investors dumped tech papers that had propelled the benchmark to record highs in a sharp recovery from March lows.
For its part, the main index of the Mexican Stock Exchange, the S & P / BMV IPC, rose 1.51% to 36,881.99 points.
The titles of the telecommunications giant América Móvil led the increases, with 6.28% more to 14.21 pesos, after it announced that it had agreed to the sale of one of its subsidiaries in the United States.
Analysts said the market is awaiting the monetary policy announcement from the US Federal Reserve, scheduled for Wednesday.
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