Buyout Deals Propel US Stocks to Near Record Highs

US stock markets saw gains on Monday, driven by two major buyout announcements. The S&P 500 rose 51.23 points, or 0.7%, to reach 7,773.95, coming within 0.3% of its all-time high. The Dow Jones Industrial Average climbed 90.94 points, or 0.2%, to 51,267.90, while the Nasdaq composite surged 286.45 points, or 1.1%, to 27,477.31, setting a new record. Oil prices fluctuated sharply before settling just above $100 per barrel of Brent crude, and the 10-year US Treasury yield increased to 5.31%.

PTC led the gains with a 33.5% jump after Schneider Electric of France announced it would acquire the software company for $205 per share, valuing it at about $22.6 billion. This news also boosted other software stocks, with Autodesk rising 4.5%. RXO saw a 22.5% increase after CH Robinson Worldwide proposed a buyout at $30.25 per share, though CH Robinson itself dropped 10.8%, the largest decline in the S&P 500.

Both Schneider Electric and CH Robinson highlighted the potential of artificial-intelligence technology in their deal announcements, contributing to strong gains in the AI sector. Nvidia, a key player in AI chip manufacturing, rose 2.1%, the largest single force lifting the S&P 500, while Broadcom also climbed 2.1%. Trading remained relatively subdued as investors awaited the start of the earnings reporting season, with analysts predicting nearly 30% year-over-year profit growth for S&P 500 companies.