Stocks are surging - Dow up 250
AP Photo
Near 9:40 a.m. ET, the Dow was up 230 points, the S&P 500 was up 17 points, and the Nasdaq was up 41 points.
It's a huge day for the biotech industry, with four deals announced before the market opened. Cellular Dynamics, which is being acquired by Fujifilm Holdings, opened over 100% higher, trading around $16.40 a share.
In economic data out earlier, personal income rose more than expected in February, while spending rose less than expected, and consumer prices increased in-line with estimates.
Expectations were for income to rise 0.3% while spending was expected to increase 0.2%.
Pending home sales are expected at 10 am ET and the latest Dallas Fed manufacturing report comes up at 10:30 am ET.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- Vodafone Idea FPO allotment – How to check allotment, GMP and more
- India leads in GenAI adoption, investment trends likely to rise in coming years: Report
- Reliance Jio emerges as World's largest mobile operator in data traffic, surpassing China mobile
- Satellite monitoring shows large expansion in 27% identified glacial lakes in Himalayas: ISRO
- Vodafone Idea shares jump nearly 8%
- Indians can now get multiple entry Schengen visa with longer validity as EU eases norms