Stock Market Today: Big Deal! Big Deal! Stocks Solidly in the Black on 'M&A Monday'
Big dealmaking from Nvidia (NVDA) and Gilead Sciences (GILD), as well as renewed COVID vaccine hopes, sent a jolt into stocks Monday.


A roaring day of M&A and other tie-ups helped inject some life into the stock market Monday, as did renewed hopes for a successful vaccine before the end of 2020.
Chipmaker Nvidia (NVDA, 5.8%) announced late Sunday that it would buy mobile chip maker Arm Holdings from Japanese conglomerate SoftBank (SFTBY, +7.9%) for $40 billion in cash and stock.
"We like the deal for NVDA given Arm's licensing model, which provides high visibility, as well as ecosystem across the mobile space," writes CFRA analyst Angelo Zino, who maintained his Buy rating on Nvidia shares. "NVDA expects the deal to be immediately accretive to EPS and support margin expansion."

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
While Microsoft (MSFT, +0.7%) revealed Sunday that its bid for the U.S. operations of controversial Chinese social media platform TikTok was rejected by parent firm ByteDance, but Oracle (ORCL, +4.3%) confirmed Monday that it would become a "trusted technology partner" for the app. The deal, which is not an outright sale, still must pass muster with the White House.
And biotech Gilead Sciences (GILD, +2.2%) announced Sunday that it would bolster its cancer-treatment portfolio with a $21 billion buyout of Immunomedics (IMMU, +98.0%).
"Following a disappointing August with the CRL for filgotinib, we are highly encouraged with the continued expansion into oncology," write Credit Suisse analysts, who rate the stock at Neutral (equivalent of Hold). "We see this as closer to a ‘transformative’ deal, given the size and current peak potential for Trodelvy (~$3.5B in peak sales per Visible Alpha consensus)."
Also over the weekend, Pfizer CEO Albert Bouris said he thinks key late-stage trial data for its COVID-19 vaccine should be available by late October, which, if positive, could mean possible U.S. distribution before the end of the year.
The major indices all were sent solidly higher, with the Dow Jones Industrial Average closing up 1.2% to 27,993.
Dow Stocks: The Pros' Third-Quarter Rankings
Other action in the stock market today:
- The Nasdaq Composite finished with a 1.9% gain to 11,056.
- The S&P 500 improved by 1.3% to 3,383.
- The small-cap Russell 2000 rocketed ahead 2.7% to 1,536.
Can Stocks Climb the "Stairs"?
The market's volatility favored investors Monday, and it could be part of a pattern of lurching market moves that ultimately sees stocks set new highs.
"The 7% correction in the S&P 500 over the past six trading sessions is likely the first of a few 3%-7% drawdowns followed by new highs as the market stairsteps higher like the fall of 2009, driven by election-year angst and the extended nature of the market-cap-weighted indices," Canaccord Genuity equity strategist Tony Dwyer says. He also reminds investors that the markets have an ally in the Federal Reserve.
"Unlike the political backdrop, which is totally unpredictable, we know the Fed intends to keep rates at zero and to keep intervening when there are any signs of stress," Dwyer says. "The uncertainty around the Fed is not whether it will continue to support the economy and risk assets, but what tools it may use to be even more accommodative."
For those eager to take a more active approach to their portfolio, these drawbacks could be the perfect opportunity to snare some of the new bull market's highest-potential plays, or a chance to buy already-value-priced equities for an even bigger discount.
For others, it could be heartburn waiting to happen. The easiest way to keep from sweating Wall Street's ebbs and flows is to put someone else at the helm -- and when you do so via target-date funds, you get the whole enchilada: equities, fixed income, and in some cases, even real estate and commodities. But which target-date funds are for you? We've explored 10 of the biggest and best target-date fund families and highlighted some of their most important characteristics to help you decide.
Disclaimer
Kyle Woodley was long MSFT as of this writing.
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.
Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism.
You can check out his thoughts on the markets (and more) at @KyleWoodley.
-
Stock Market Today: Stocks Soar on China Trade Talk Hopes
Treasury Secretary Bessent said current U.S.-China trade relations are unsustainable and signaled hopes for negotiations.
By Karee Venema
-
2026 Disney Dining Plan Returns: Free Dining for Kids & Resort Benefits
Plan your 2026 Walt Disney World vacation now. Learn about the returning Disney Dining Plan, how kids aged three to nine eat free, and the exclusive benefits of staying at a Disney Resort hotel.
By Carla Ayers
-
How Can Investors Profit From AI's Energy Use?
Global energy demand is expected to grow by leaps and bounds over the next several years as AI usage accelerates. Here's how to get a piece of the pie.
By Jacob Schroeder
-
Stock Market Today: Dow Drops 699 Points After Powell Speech
Fed Chair Powell warned of a slowing economy and higher inflation but said the central bank isn't ready to cut rates just yet.
By Karee Venema
-
Stock Market Today: Dow Drops Another 2,231 Points to Hit a Correction
The Nasdaq Composite, meanwhile, entered a new bear market with its latest slide.
By Karee Venema
-
Stock Market Today: Dow Dives 1,679 Points on Trump Tariff Shock
U.S. stocks lost roughly $3.1 trillion in market cap on Thursday – the biggest one-day decline since the start of the COVID-19 pandemic in March 2020.
By Karee Venema
-
The Stock Market Is Selling Off. Here's What Investors Should Do
Investors started fleeing the equities market en masse in response to the Trump administration's "jaw-dropping" tariffs. But the experts say don't panic.
By Karee Venema
-
Stock Market Today: It's the Old Up-Down Again on Liberation Day
Markets look forward to what comes with the reordering of 80-year-old global trade relationships.
By David Dittman
-
Stock Market Today: Dow Rises 854 Points From Its Intraday Low
If there's one thing markets hate, it's uncertainty. But uncertainty is all they're getting these days.
By David Dittman
-
Microsoft Stock: Innovation Spurs Its 100,000% Return
Microsoft's ability to recognize the "next big thing" has allowed sales – and its share price – to grow exponentially over the years.
By Louis Navellier