- Stocks surged, with the Dow up 175 points and the Nasdaq reaching a 14-year high, on the back of increasing homebuilder confidence and hopes for receding tensions between Russia and Ukraine.
- Also driving some of the gains was Dollar General's $8.95B counterbid for Family Dollar, which topped an offer made three weeks ago by Dollar Tree and marked the latest potential tie-up in a year that has seen a pickup in corporate deal-making.
- "With the momentum built up over the last week, conversations are likely to turn towards when, not if, it can tackle the 17,000 level again,” IG analyst Alastair McCaig says.
- Participation continued on the low side, with fewer than 600M shares changing hands at the NYSE.
- In addition to boosting equities, today's events weighed on safe-haven assets, as benchmark the 10-year note spent the day in a steady retreat and pushing its yield up 5 bps to 2.39%.
Nasdaq ends at 14-year high as global tensions are seen receding
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