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U.S. equities rise to start the week
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Poor NY Empire State Index data in August
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Nvidia (NVDA.US) hits fresh ATH as the company is in talks to buy chipmaker
American equities advanced at the US Open despite rather mixed moods on European stock markets. S&P 500 was rising 0.3% as the index flirts with record high. Nasdaq was accelerating an upward move as well while DJIA traded slightly below the flatline. American investors clearly overlooked poor NY Empire State Manufacturing Index data for the month of August. The index unexpectedly fell to 3.7 pts while market anticipated that it would amount to 15.0 pts. Last month’s data showed a solid expansion (17.2 pts) compared to -0.2 pts in June. The index relates to general business conditions in the New York state.
Nasdaq (US100) is once again gradually approaching all-time highs amid upbeat news form Nvidia and IBM. The index is currently testing local highs from August 13 - should the bulls smash through that barrier, the road to ATH (11,282.12 pts) will be left open. Source: xStation5
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Open real account TRY DEMO Download mobile app Download mobile appSanofi (SNY.FR) agreed to acquire U.S. biotech company Principia Biopharma in an all-cash deal. The transaction will amount to about $3,4 billion and Sanofi will take full control of the company (in fact Sanofi is set to pay $100 per share, representing a 10% premium over the Friday closing price). The deal will be the second-largest pharmaceutical acquisition this year.
Barrick Gold (GOLD.US) jumped in the pre-market following news that Warren Buffett’s Berkshire Hathaway took a stake in the company. In Q2 2020 Berhskire bought 20.9 million shares of Barrick Gold - the Toronto-based miner.
International Business Machines (IBM.US) launched its newest processor chip, called IBM Power10. It is supposed to handle triple the workload of its predecessor. The processor was developed in collaboration with Samsung Electronics Co. Ltd. and is expected to be available in H2 2021.
Nvidia (NVDA.US) is reportedly in exclusive talks to buy chipmaker ARM - according to a report in the U.K.’s Evening Standard. The deal could value the company at up to $52,4 billion. The report, citing unnamed sources, pointed out that a takeover is set for completion by the end of the summer.
Nvidia (NVDA.US) stock has been trading in an upward channel since February-March sell-off. Today’s session opened with a bullish gap and the share price managed to hit fresh all-time highs. Should the sellers regain control of the market, the lower limit of the channel should could be regarded as key support level. Source: xStation5
