Investing.com - U.S. stocks shot up on Monday after investors
applauded mergers and acquisitions announcements in a session that
also saw heavy demand for healthcare stocks due to bullish
At the close of U.S. trading, the Dow Jones Industrial Average
rose 0.64%, the S&P 500 index rose 0.62%, while the Nasdaq
Composite index rose 0.69%.
A flurry of mergers and acquisitions announcements sent stocks
RF Micro Devices agreed to acquire TriQuint Semiconductor, while
Men's Wearhouse hiked a cash tender offer for Jos. A. Bank
Meanwhile, Washington regulators are reportedly proposing cuts
to Medicare rates that are less than many were expecting, which
sent healthcare stocks climbing, insurance providers
Insurers have been expecting reimbursement cuts of around 7%
though talk of a proposed 4% figure helped fuel Monday's rally.
Elsewhere, eBay shares rose after noted investor Carl Icahn
urged the online retailer to spin off its payment unit Pay-Pal.
Leading Dow Jones Industrial Average performers included
UnitedHealth, up 2.97%, Nike, up 1.78%, and Pfizer, up 1.70%.
The Dow Jones Industrial Average's worst performers included
Verizon, down 1.58%, AT&T, down 0.99%, and Microsoft, down
European indices, meanwhile, finished higher.
After the close of European trade, the EURO STOXX 50 rose 0.62%,
France's CAC 40 rose 0.87%, while Germany's DAX 30 rose 0.54%.
Meanwhile, in the U.K. the FTSE 100 rose 0.41%.
On Tuesday, the U.S. is to release data on consumer confidence
and a private sector report on house price inflation.
offers an extensive set of professional tools for the financial
Read more News on Investing.com and download the new
Investing.com Stocks & Forex App