Stocks Rally Worldwide. Indices Are Near Record Levels

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri

Reuters: Nasdaq hits record high close as traders eye M&A and stimulus

The Nasdaq surged to a record high close 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.

Microsoft (MSFT.O) jumped 5.6% after it said it would push ahead with talks to buy the U.S. operations of Chinese-owned TikTok. President Donald Trump reversed course earlier on a planned ban of the short-video app.

ADT (ADT.N) soared over 56% on news that Alphabet’s (GOOGL.O) Google was buying a nearly 7% stake in the home security firm for $450 million in a deal that will allow it to provide service to customers of its Nest home security devices.

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Update: Stocks rally worldwide, S&P 500 back to within 3% of record (AP)

WNU Editor: On the one hand there is growing evidence that the pandemic is going to get worse. On the other hand global stock markets are predicting boom times ahead. So who is right?

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