Nasdaq starts the week on a positive note after two weeks of decline
The U.S. stock market started the week on a positive note with a series of acquisition announcements and news on a COVID-19 vaccine. 84% of NYSE stocks gained ground yesterday, which is an encouraging signal, but not enough to bank on a bullish reversal.
On the acquisition front, the most important information this weekend is the takeover of British semiconductor manufacturer Arm Holdings by US giant Nvidia.
Regarding TikTok, Oracle is now presumed favorite in the takeover of the American activities of the Chinese application following the refusal of ByteDance to sell its application to Microsoft.
Finally, we will note the acquisition of Immunomedics, specializing in medical study, diagnosis and treatment of cancers by the Gilead laboratory for $ 21 billion, the largest acquisition of the year in the pharmaceutical sector.
These announcements allowed the Nasdaq 100 to gain 1.7% for its first session of the week and thus offset part of the 10% of the Nasdaq’s losses of the last two weeks. However, it is a rebound that still seems insufficient to adopt a new bullish outlook.
Nasdaq 100 30 Minute Chart – Key Levels