Posted 10/23/2023, 5:36:00 PM
Stocks Rebound As Mega-Caps Rise; M&A Activity Continues Despite Lingering Risks
- Stock market rebounded impressively on Monday, with major indexes erasing losses. Nasdaq rose 0.9% and back above 13,000.
- Strength seen in megacaps like Meta, Microsoft, Nvidia. Walgreens led Dow after upgrade.
- Chevron acquiring Hess in $53 billion deal. M&A activity also seen with Roche, Textainer, Vista deals.
- Market faces risks from earnings, geopolitics, interest rates this week.
- Technical indicators showed promise but market has more work before bottom.
