US stocks climbed today, boosted by a couple of billion-dollar deals, while Apple shares fluctuated following the long-anticipated rollout of its watch.
The gain comes a session after the S&P 500’s biggest drop in almost two months, as well as two straight weeks of declines for major indexes.
Alcoa Inc said it would buy RTI International Metals Inc for $1.5 billion. Separately, Simon Property Group offered to buy Macerich Co for $22.4 billion including debt.
Alcoa lost 6.4 percent to $13.55 while RTI jumped 38 percent to $37.62. Macerich rose 6.1 percent to $92 and Simon Property was up 0.1 percent at $180.78.
Apple shares were down 0.5 percent at $125.92 in heavy trading. The stock slightly extended gains after the rollout of the watch, but then pared those gains and turned lower as Apple announced the price would range from $349 to $10,000.
The Dow Jones industrial average rose 148.03 points, or 0.83 percent, to 18,004.81, the S&P 500 gained 7.85 points, or 0.38 percent, to 2,079.11 and the Nasdaq Composite added 7.51 points, or 0.15 percent, to 4,934.88.
The S&P 500 is about 2 percent below its record closing high, as is the Dow. The Nasdaq is 2.4 percent below its record close hit in March 2000.
European shares fell with investors booking recent lofty gains as the European Central Bank begins its programme of bond purchases, aimed at reviving inflation and economic growth.
The market has rallied strongly since the start of the year, with the FTSEurofirst 300 surging over 14 percent in the run-up to the ECB’s quantitative easing programme, under which it will buy 60 billion euros ($65 billion) a month of bonds.
The drop in European stocks today mirrored a sell-off on Wall Street on Friday, where strong US jobs data fanned expectations that the Federal Reserve may raise interest rates sooner than previously thought.
The FTSEurofirst 300 index of top European shares closed down 0.2 percent at 1,567.09 points, slipping from a seven-year high hit last week.
Greek banking shares were among the biggest losers, with Bank of Piraeus down 12.4 percent and Eurobank down 11.3 percent lower as euro zone finance ministers met to discuss reforms pledged by Athens.
The head of euro zone finance ministers urged Greece to «stop wasting time» and buckle down to serious talks on implementing a reform programme to secure urgently needed fresh funds from its international creditors.
Meanwhile, Tokyo shares fell today in thin trade after a strong US jobs report stoked concerns that the Federal Reserve could raise interest rates sooner than expected.
The Nikkei ended 1.0 percent lower to 18,790.55. The broader Topix dropped 0.6 percent to 1,531.76, with only 1.798 billion shares changing hands, the lowest level since December 30.
The JPX-Nikkei Index 400 also shed 0.6 percent to 13,919.70.
Source: Buenos Aires Herald