Wall Street closes broadly higher on deal news, Covid-19 vaccine hopes

published 15.09.2020 06:51

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US stocks are coming off of two straight weeks of losses as investors sold heavyweight technology shares that had powered the benchmark index to record highs in a dramatic recovery from its March lows.

Nvidia Corp jumped 5.8% and was among the biggest boosts for the S&P 500 and Nasdaq following plans to buy UK-based chip designer Arm from Japan's SoftBank Group Corp for as much as $40 billion, in a deal set to reshape the global semiconductor landscape.

Also, Pfizer Inc rose 2.6% after the drugmaker and German biotech firm BioNTech SE proposed to expand their Phase 3 pivotal Covid-19 vaccine trial to about 44,000 participants.

NEW YORK (REUTERS) - US stocks ended sharply higher on Monday (Sept 14) as signs of progress in developing a Covid-19 vaccine and a spurt of multibillion-dollar deals lifted investor optimism.

Tesla Inc's shares rebounded 12.6% after losses last week.

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