U.S. stock index futures climbed on Monday on signs of progress in COVID-19 vaccine development and a flurry of multi-billion dollar deals, including a report of Oracle winning the battle for the U.S. arm of TikTok.
Shares of Oracle surged 8.4per cent in premarket trading, leading gains among the S&P 500 constituents after sources told Reuters the cloud services firm is entering a deal structured as a partnership rather than an outright sale to try to navigate geopolitical tensions between Beijing and Washington.A Microsoft Corp led consortium that included Walmart Inc was also in talks for TikTok's U.S. business. Their shares fell marginally.
Global equities got a lift on Monday after drugmaker AstraZeneca resumed its British clinical trials of its COVID-19 vaccine, one of the most advanced in development. Gilead Sciences Inc slipped 0.6per cent as it said will acquire biotech company Immunomedics Inc for US$21 billion, a move that will strengthen its cancer portfolio by gaining access to a promising drug.
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