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Stocks Gain Amid Deals Optimism; Dollar Weakens: Markets Wrap

  • Oracle, SoftBank and Immunomedics shares gain on M&A news
  • Europe stocks edge higher; pound posts biggest gain in 2 weeks

Photographer: Nicolas Asfouri/AFP via Getty Images

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U.S. stocks rose for a second day amid a flurry of deal activity and signs of progress toward a coronavirus vaccine. The dollar weakened and Treasuries were little changed.

Oracle Corp. jumped 4.3% on reports the company beat Microsoft Corp. in negotiations for the U.S. operations of TikTok. Immunomedics Inc. almost doubled after Gilead Sciences Inc. agreed to buy the cancer drugmaker for $21 billion.