In broad market action, the S&P 500 index climbed 2.91 percent to 6,528.52. During the session, the S&P 500 traded within a range of 0.82 percent at its lowest and 3.08 percent at its highest.
The tech-heavy Nasdaq Composite rose 3.83 percent to 21,590.63. Throughout the day, the index moved within a range of 1.29 percent at its lowest and 4.08 percent at its highest.
Sector-wise, telecommunications performed best, up 4.42 percent, while energy saw the weakest performance, declining 1.12 percent.
Pharmaceutical company Biogen is acquiring Apellis for 5.6 billion dollars, equivalent to 41 dollars per share, representing more than a doubling of Monday's closing price. Biogen shares fell 2.3 percent, while Apellis surged 135.4 percent.
Elsewhere in the sector, Eli Lilly has also made an acquisition. The company is buying Centessa in a deal valued at up to 7.8 billion dollars. Eli Lilly rose 3.7 percent, while Centessa advanced 44 percent.
American firm McCormick is merging its food business with consumer goods giant Unilever, confirming Wall Street Journal reports that a deal was imminent. McCormick shares fell 6.1 percent.
Semiconductor company Marvell Technology rose 12.8 percent following the announcement that chip giant Nvidia is investing 2 billion dollars in the company. The two firms are also entering into a strategic partnership in AI infrastructure. Nvidia was up 5.6 percent.
Software giant Microsoft advanced 3.1 percent but concluded its worst quarter since 2008, with the stock having lost nearly a quarter of its value since the start of the year. The market is concerned about the return on investment in AI and whether the AI assistant Copilot will be a success, CNBC noted in a commentary.
Financial information firm Factset reported its second quarter before the opening bell. Revenue and adjusted earnings per share were in line with consensus. The company raised its full-year outlook in line with consensus. The stock climbed 6.1 percent.
The yield on the US ten-year Treasury note fell 2 basis points to 4.32 percent. This morning, the yield is noted at 4.29 percent.
Brent crude retreated 3.18 percent to 103.97 dollars, and WTI crude fell 1.46 percent to 101.38 dollars. Brent is currently trading at 105.36 dollars, while the WTI quote is 102.99 dollars.
Gold prices (futures) rose 2.66 percent to 4,678.60 dollars. Today, gold stands at 4,697.80 dollars.
The dollar weakened to 1.1554 against the euro, from 1.1464 the previous day. Today, the dollar stands at 1.1563. One dollar currently costs 9.4608 Swedish kronor, compared to 9.4685 on the previous trading day.
| Index | Price | Diff Today | Diff YTD |
| DJIA 30 | 46,341.51 | 2.49% | -3.58% |
| S&P 500 | 6,528.52 | 2.91% | -4.63% |
| Nasdaq Composite | 21,590.63 | 3.83% | -7.11% |
| TSE (Toronto) | 32,768.04 | 2.61% | 3.33% |
| Consumer Discretionary | 1,748.22 | 3.28% | -9.34% |
| Consumer Staples | 925.56 | 0.02% | 7.01% |
| Energy | 943.30 | -1.12% | 37.24% |
| Financials | 822.22 | 2.13% | -9.80% |
| Healthcare | 1,710.39 | 1.94% | -5.29% |
| Industrials | 1,369.67 | 3.24% | 4.30% |
| Materials | 627.82 | 1.85% | 9.30% |
| Real Estate | 259.99 | 1.50% | 1.94% |
| IT | 5,158.06 | 4.24% | -9.25% |
| Utilities | 466.42 | -0.09% | 7.52% |
| Telecom | 420.28 | 4.42% | -7.10% |
| Source: Factset |
