U.S. equity markets rose Monday, putting the major averages on track for their first weekly advance in three.
|I:DJI||DOW JONES AVERAGES||33823.45||-210.22||-0.62%|
|I:COMP||NASDAQ COMPOSITE INDEX||14161.350236||+121.67||+0.87%|
The Dow Jones Industrial Average gained 185 points, or 0.54%, while the S&P 500 and the Nasdaq Composite advanced 0.99% and 1.41%, respectively.
|COG||CABOT OIL & GAS CORP||15.91||-0.66||-3.98%|
In stocks, Cabot Oil & Gas Corp. agreed to buy rival Cimarex Energy Co. for $7.35 billion in stock. The agreement will pay Cimarex shareholders 4.0146 Cabot shares for each Cimarex share they own.
Chipmakers also rose with Applied Materials, Nvidia and Intel helping boost large-cap tech.
|AMAT||APPLIED MATERIALS, INC.||137.32||+0.34||+0.25%|
Martin Marietta Materials Inc. reached a deal to buy U.S. assets owned by Germany-based HeidelbergCement for $2.3 billion cash.
|SPCE||VIRGIN GALACTIC HOLDINGS INC.||37.32||+1.95||+5.51%|
Elsewhere, Virgin Galactic Holdings Inc. shares rocketed higher after the space exploration company on Saturday successfully completed its first test flight in over two years.
|AMC||AMC ENTERTAINMENT HOLDINGS INC||60.73||+5.55||+10.06%|
Movie-theater chain AMC Entertainment Holdings Co.’s largest shareholder, Dalian Wanda Group, sold the majority of its stake, according to a regulatory filing released Friday. Wanda acquired AMC in 2012 and took the company public in 2013.
Bitcoin-linked companies including Coinbase Global Inc., MicroStrategy Inc. and Tesla Inc. were in focus after the cryptocurrency over the weekend plunged below $32,000 per coin before recouping some of its losses hitting the $37,000 level in early trading.
Meanwhile, energy companies like Chevron Corp. and Exxon Mobil Corp. were higher as West Texas Intermediate crude oil climbed $2.47 to $66.05 per barrel.
|XOM||EXXON MOBIL CORP.||61.99||-2.11||-3.29%|
Gold, meanwhile, rallied $7.90 to $1,884.60 an ounce.
Overseas markets were mostly higher.
In Europe, Britain’s FTSE 100 and France’s CAC 30 rallied 0.48% and 0.35%, respectively while Germany’s DAX 30 was closed for holiday.
Asian markets were mixed with Hong Kong’s Hang Seng index slipping 0.16% while Japan’s Nikkei 225 and China’s Shanghai Composite added 0.17% and 0.31%, respectively.