Stocks jump at the open on vaccine, merger news

U.S. stocks opened higher Monday, buoyed by deal-making and prospects for a COVID-19 vaccine. The Dow Jones Industrial Average DJIA, +1.04% rose 192 points, 0.7%, to open near 27,858, while the S&P 500 SPX, +1.37% added 33 points, 1%, and opened at about 3,374. The Nasdaq Composite COMP, +1.86% punched 155 points higher to open near 11,009, up about 1.4%. The tech-heavy index ended trading Friday down 4.1% for the week, its worst showing since March, as investors sold stocks perceived as too expensive, and options trades that have bid up those equities over the past few months continued to unwind. AstraZeneca PLC AZN, +0.68% said Monday it was restarting its vaccine clinical trials, after a delay last week. Shares were nearly 1% higher in early trade. Gilead Sciences GILD, +2.14% said it will acquire Immunomedics IMMU, +103.18%, maker of the breast-cancer drug Trodelvy. Immunomedics shares more than doubled in early trading.

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