Wall Street rises at open on M&A activity, vaccine hopes

Wall Street posts second weekly drop

Oracle surged 4.3 per cent to near record highs after sources told Reuters that the cloud services firm beat Microsoft in the battle for the U.S. arm of TikTok with a deal structured as a partnership to navigate geopolitical tensions.

US stock index futures rose late Sunday, as a series of deals raised hopes that battered stocks would recover after the tech-heavy Nasdaq ended its worst week since March. Meanwhile, addressing to an overvaluation of the tech stocks, a Chief investment strategist at Inverness Counsel in New York, Tim Ghriskey said, "While growth isn't cheap, it is growth and a lot of these companies are doing well during the pandemic so I wouldn't be surprised to see money coming back to them".

"Although earnings revisions have stalled in the past month, we expect further reopening and vaccine progress will catalyze another move higher in estimates", Goldman analysts wrote in a note on Monday.

Apple Inc, Facebook.com and Google-parent Alphabet Inc rose between 1.6% and 2%.

The Dow Jones Industrial Average was up 1.27 percent at 28,016.60 in mid-morning trading in NY.

Global equities also got a lift on Monday after drug maker AstraZeneca resumed its British clinical trials of its COVID-19 vaccine, one of the most advanced in development. 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. Tesla Inc's shares rebounded 12.6% after losses last week.

Samsung Galaxy Z Fold2 pricing, availability, and repairing in India revealed
Samsung launched its third-gen foldable phone, the Galaxy Z Fold 2 , along with the Galaxy Note 20 series earlier last month . You will find a 12MP primary, a 12MP ultra-wide, and a 12MP telephoto camera with 2x optical zoom on the rear here.

The path of least resistance for stocks is volatile and probably a bit lower from here, said Art Hogan, chief market strategist at National Securities in NY.

With just 50 days to go until the November 3 United States presidential election, USA markets are coming off of a volatile week that knocked the Nasdaq Composite Index down as much as 10 percent from its highs and rocked other indexes.

Seattle Genetics gained 13% after Merck & Co Inc said it would buy $1 billion worth of equity stake in to co-develop and sell the smaller drugmaker's cancer therapy.

Immunomedics Inc's shares more than doubled on Gilead Sciences Inc's $21 billion buyout deal, which is a steep premium to the biotech company's closing price on Friday.

Declining issues outnumbered advancing ones on the NYSE by a 1.05-to-1 ratio; on the NASDAQ, a 1.41-to-1 ratio favored decliners.

The broad-based S&P 500 climbed 1.7 percent to 3,399.07, while the tech-rich Nasdaq Composite Index - which has struggled in recent sessions amid concerns over excess stock valuations - shot up 2.3 percent to 11,098.90.

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