REUTERS: Wall Street rallied on Monday as a rebound in multibillion-dollar deals, including Microsoft's pursuit of TikTok's U.S. operations, lifted sentiment, and efforts to hammer out a coronavirus relief bill resumed.
Varian Medical Systems Inc jumped over 20per cent after a US$16 billion buyout by Germany's Siemens Healthineers , while Kansas City Southern added more than 3per cent after a report a group of buyout investors were considering a takeover bid in a deal of about US$20 billion. Apple Inc rallied for a second straight session following stunning quarterly results and announcing a four-for-one stock split. At its current share price of about US$437, the tech giant is about US$140 billion short of hitting US$2 trillion in market capitalization.Tech far outpaced gains among the six of 11 major S&P sectors trading higher.
A rally in tech-related stocks and trillions of dollars in monetary and fiscal stimulus have lifted the S&P 500 to within about 3per cent of February's record high.
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