The Dow climbed 1.18 percent to 27,993.33 points. The market-wide S&P 500 rose 1.27 percent to 3383.54 points. For the technology-heavy Nasdaq 100, it went up 1.72 percent to 11 277.76 points.
Especially in the pharmaceutical industry, investors burned off a fireworks display. Immunomedics’ shares almost doubled their closing price on Friday to just under $ 84 after the pharmaceutical company Gilead Sciences put a correspondingly high offer on the table: it is offering the biotech company a total of around $ 21 billion in cash, which equates to $ 88 per share. With the transaction, Gilead intends to strengthen itself in the area of cancer therapies. The Gilead shares quickly made up for initial losses and ended up gaining a good 1 percent.
In the case of Immunomedics competitor Seattle Genetics, shareholders could look forward to an increase of almost 15 percent; This made the shares the front runners in the Nasdaq 100. Here, the cooperation with the pharmaceutical giant Merck & Co in the further development of two cancer drugs made faces smile. The Merck & Co papers yielded somewhat.
Pfizer was up 2.6 percent. However, it was not a takeover that boosted the mood here, but the announcement that the pharmaceutical company wants to expand a corona vaccine study together with its cooperation partner Biontech. The Biontech papers listed in New York gained 3.6 percent.
The fact that Nvidia wants to buy the chip designer arm from the Japanese technology group Softbank for around 40 billion dollars made the shares of the graphics card specialist rise by almost six percent. Tesla’s stocks soared nearly 13 percent. The US investor magazine Barron’s had referred to a tweet from CEO Elon Musk about Tesla’s “Battery Day” on September 22 as a drive. The tweet was canceled on Friday, but it picked up speed over the weekend, it said. Musk announced “a lot of exciting things” about batteries.
In the struggle for the future of the popular Tiktok video app in the USA, a last-minute deal with the participation of the software company Oracle is emerging. However, it is no longer about a sale of the US business by the Chinese owner Bytedance, but only about a role for Oracle as a technology partner. It was initially unclear whether this solution would satisfy US President Donald Trump. With reference to data security, he originally set Bytedance a deadline of mid-September to part with the US business. Despite the existing uncertainties, Oracle shares jumped a good four percent after a trading interruption, Microsoft shares gained almost 1 percent in the friendly environment.
The euro was last listed at 1.1863 US dollars. The European Central Bank had set the reference rate at 1.1876 (Friday: 1.1854) dollars. The dollar cost 0.8420 (0.8436) euros. Trendy ten-year US Treasuries fell 2/32 points to 99 17/32 points on gains on Wall Street. They yielded 0.674 percent./la/fba
— By Lutz Alexander, dpa-AFX —
(AWP)
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