NEW YORK (IFN) - Stocks on Wall Street ended surged on Monday (Tuesday morning GMT), a series of agreements driven pharmaceutical company and speculation monetary stimulus in China.
The Dow Jones Industrial Average rose 263.65 points (1.49 percent) to close at 17976.31.
Broad-based index of the S & P 500 jumped 25.22 points (1.22 percent) to finish at 2086.24, while the tech-heavy Nasdaq composite index increased 56.22 points (1.15 percent) to 4947.44.
US stocks are in the green throughout the day after the S & P 500 slumped 2.2 percent last week, falling for four days out of five trading days.
Equity markets also received support from the Chinese central bank governor's comments, People's Bank of China (PBoC), Zhou Xiaochuan who warned of disinflation and suggests steps further monetary easing.
In the largest pharmaceutical deal today, Catamaran shares jumped 23.9 percent to 59.83 dollars after UnitedHealth announced it would buy the company for $ 61.50 US dollars per share in cash.
The deal will create a "pharmacy benefit manager" - a company that manages prescription drug services between health insurance and uninsured patients - the third rank. UnitedHealth shares rose 2.5 percent.
Horizon Pharma drug developer announced plans to acquire Hyperion Therapeutics for $ 1.1 billion. Horizon shares rose 18.2 percent, while Hyperion rose 7.6 percent.
Auspex Pharmaceuticals shares shot 41.5 percent after it agreed to be acquired by Teva Pharmaceuticals worth 3.2 billion US dollars. Auspex specializes in the treatment of Huntington's disease. Teva shares advanced 0.9 percent.
Tesla Motors shares rose 3.0 percent after its chief executive Elon Musk announced on Twitter the company will launch a new product line of "big" on April 30th. Musk said the new product is not a car.
Ford Motor rose 1.1 percent as it announced plans to re-launch luxury car Lincoln Continental in the US and China in 2016.
Company Madison Square Garden rose 4.5 percent as it announced plans to separate sports and entertainment business units to shareholders in a tax-free deal.
Pharmaceutical company Mylan fell 2.6 percent on news that Abbott Laboratories plans to sell almost a third of its stake in the company. In July, Mylan buy Abbott's non-US business worth 5.3 billion US dollars in the stock Mylan.
Bond prices were mixed. Yields on government bonds 10-year US Treasury remained stable 1.96 percent, while the 30-year bond rose to 2.55 percent from 2.53 percent on Friday.
Bond prices and yields move in opposite directions.
The Dow Jones Industrial Average rose 263.65 points (1.49 percent) to close at 17976.31.
Broad-based index of the S & P 500 jumped 25.22 points (1.22 percent) to finish at 2086.24, while the tech-heavy Nasdaq composite index increased 56.22 points (1.15 percent) to 4947.44.
US stocks are in the green throughout the day after the S & P 500 slumped 2.2 percent last week, falling for four days out of five trading days.
Equity markets also received support from the Chinese central bank governor's comments, People's Bank of China (PBoC), Zhou Xiaochuan who warned of disinflation and suggests steps further monetary easing.
In the largest pharmaceutical deal today, Catamaran shares jumped 23.9 percent to 59.83 dollars after UnitedHealth announced it would buy the company for $ 61.50 US dollars per share in cash.
The deal will create a "pharmacy benefit manager" - a company that manages prescription drug services between health insurance and uninsured patients - the third rank. UnitedHealth shares rose 2.5 percent.
Horizon Pharma drug developer announced plans to acquire Hyperion Therapeutics for $ 1.1 billion. Horizon shares rose 18.2 percent, while Hyperion rose 7.6 percent.
Auspex Pharmaceuticals shares shot 41.5 percent after it agreed to be acquired by Teva Pharmaceuticals worth 3.2 billion US dollars. Auspex specializes in the treatment of Huntington's disease. Teva shares advanced 0.9 percent.
Tesla Motors shares rose 3.0 percent after its chief executive Elon Musk announced on Twitter the company will launch a new product line of "big" on April 30th. Musk said the new product is not a car.
Ford Motor rose 1.1 percent as it announced plans to re-launch luxury car Lincoln Continental in the US and China in 2016.
Company Madison Square Garden rose 4.5 percent as it announced plans to separate sports and entertainment business units to shareholders in a tax-free deal.
Pharmaceutical company Mylan fell 2.6 percent on news that Abbott Laboratories plans to sell almost a third of its stake in the company. In July, Mylan buy Abbott's non-US business worth 5.3 billion US dollars in the stock Mylan.
Bond prices were mixed. Yields on government bonds 10-year US Treasury remained stable 1.96 percent, while the 30-year bond rose to 2.55 percent from 2.53 percent on Friday.
Bond prices and yields move in opposite directions.
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