Stocks bounce up in broad-based advanceDow +410.10 at 27574.06, Nasdaq +203.96 at 11117.55, S&P +53.14 at 3351.60 [BRIEFING.COM] The S&P 500 rose 1.6% on Monday in a broad-based advance. The small-cap Russell 2000 (+2.4%) and S&P MidCap 400 (+2.4%) outperformed with 2.4% gains, followed by the Nasdaq Composite (+1.9%) and Dow Jones Industrial Average (+1.5%). All 11 sectors within the S&P 500 ended the day in positive territory, with energy (+2.3%), financials (+2.3%), consumer discretionary (+2.2%), and information technology (+1.9%) finishing atop the standings. The utilities sector (+0.3%) was today's laggard. Value/cyclical stocks had a nice advantage for most of the day, until the technology stocks narrowed the gap later in the session. Apple ($AAPL 114.96, +2.68, +2.4%), for instance, finished higher by 2.4% after being up just 0.5% in the morning. Analyst upgrades, M&A activity, and another positive vaccine update from Johnson & Johnson ($JNJ 147.11, +1.45, +1.0%) were corporate-related drivers of sentiment for many cyclical stocks. Other positive factors were House Speaker Pelosi saying a stimulus bill is still possible and quarter-end rebalancing, which favored the financial and energy sectors. A separate viewpoint was rooted more in technical observation than news. The lack of volatility, and market-moving events, suggested today was a momentum trade from Friday, with performance aided by a recognition the S&P 500 and Dow had declined for four straight weeks. Notably, the S&P 500 closed below its 50-day moving average (3353) despite spending a healthy portion of the afternoon above the key technical level. U.S. Treasuries were stagnant during today's stock market gains. The 2-yr yield increased one basis point to 0.14%, and the 10-yr yield was unchanged at 0.66%. The U.S. Dollar Index declined 0.4% to 94.27. WTI crude futures rose 0.7%, or $0.29, to $40.54/BBL. Investors did not receive any economic data on Monday. The Conference Board's Consumer Confidence Index for September, the S&P Case-Shiller Home Price Index for July, and the Advance August reports for Intl Trade in Goods, Retail Inventories, and Wholesale Inventories will be released on Tuesday. Nasdaq Composite +23.9% YTDS&P 500 +3.7% YTDDow Jones Industrial Average -3.3% YTDRussell 2000 -9.5% YTD Market Snapshot Dow27574.06+410.10(1.51%)Nasdaq11117.55+203.96(1.87%)SP 5003351.60+53.14(1.61%)10-yr Note 0/320.663NYSEAdv 2546 Dec 467 Vol 845.5 mlnNasdaqAdv 2520 Dec 811 Vol 3.5 bln Industry Watch Strong: Energy, Financials, Information Technology, Consumer DiscretionaryWeak: Utilities Moving the Market -- Broad-based gains to start the week-- Analyst upgrades, M&A activity, quarter-end rebalancing, and vaccine news help lift cyclical stocks -- General trading momentumStocks end higher hopeful on stimulus potential Stocks started the week on an up note, extending the rally that closed out last week as House Speaker Nancy Pelosi said on Sunday that another coronavirus stimulus plan agreement may be possible. While Democrats try to craft a smaller aid package that would cost about $1 trillion less than their initial proposal, the price is still more than Republicans have indicated they might accept. Wall Street saw four straight weeks of decline through last week, so some bargain hunting may have been at play in today's advance as well. ECONOMIC EVENTS: In the U.S., the Dallas Fed manufacturing index jumped 5.6 points to 13.6 in September, which was better than forecast. Data from the Johns Hopkins Whiting School of Engineering shows there are now 33.15M confirmed cases of COVID-19 worldwide, including 7.12M in the U.S., and 998,696 deaths due to the disease, including about 205,000 in the U.S. TOP NEWS: Judge Carl Nichols of the U.S. District Court in Washington, D.C. on Sunday night halted the Trump administration's ban of downloads of TikTok. The TikTok ban had been set to take effect at 11:59 p.m. Eastern time. ByteDance, TikTok's Chinese parent company, has said it reached a preliminary agreement for Walmart ($WMT) and Oracle ($ORCL) to acquire stakes in what will be the newly-formed TikTok Global. Shares of Uber ($UBER) rose 3.2% after Deputy Senior District Judge Tanweer Ikram granted a London Private Hire Vehicle operators license to Uber London Limited for a period of 18 months "with conditions as agreed by parties." The judge did not find any evidence of concealment on the part of Uber "as regards the driver photo fraud issue." In other Uber news, Bloomberg reported that the company is considering a purchase of Daimler ($DDAIF) and BMW's ($BMWYY) ride-hailing joint venture, Free Now. Meanwhile, shares of Inovio Pharmaceuticals ($INO) plunged 28.3% after the company announced that the FDA placed a partial hold on the planned phase 2/3 trial of INO-4800, the company's COVID-19 vaccine candidate. In M&A news, Devon Energy ($DVN) and WPX Energy ($WPX) announced they have entered into an agreement to combine in an all-stock merger of equals transaction. The exchange ratio, together with closing prices for Devon and WPX on September 25, results in an enterprise value for the combined entity of approximately $12B. Upon completion of the transaction, Devon shareholders will own approximately 57% and WPX shareholders will own approximately 43% of the combined company on a fully diluted basis. In other deal news, Cleveland-Cliffs ($CLF) announced that it has entered into a definitive agreement with ArcelorMittal ($MT) to acquire substantially all of the operations of ArcelorMittal USA and its subsidiaries for approximately $1.4B. ArcelorMittal USA will be acquired by Cleveland-Cliffs on a cash-free and debt-free basis, with a combination of 78.2M shares of Cleveland-Cliffs common stock, non-voting preferred stock with an approximate aggregate value of $373M and $505M in cash. Meanwhile, Piedmont Lithium ($PLL) announced that it has entered into a binding agreement with Tesla ($TSLA) for the supply of spodumene concentrate from Piedmont's North Carolina deposit to Tesla, prompting the shares of Piedmont to race higher. Additionally, MobileIron ($MOBL) shares finished 6.2% higher after the company agreed to be acquired by Ivanti for $7.05 per share. In other news, Amazon's ($AMZN) annual Prime Day event is back on October 13-14, the company confirmed. The two-day shopping event will span the U.S., U.K, U.A.E, Spain, Singapore, Netherlands, Mexico, Luxembourg, Japan, Italy, Germany, France, China, Canada, Belgium, Austria, Australia, Turkey and Brazil. MAJOR MOVERS: Among the noteworthy gainers was Virgin Galactic ($SPCE), which rose 24.8% after analysts at BofA and Susquehanna initiated coverage of the stock with Buy-equivalent ratings. Also higher was Endurance ($EIGI), which gained 17.9% after Bloomberg reported that the company has restarted a review of strategic options, including a possible sale. Among the notable losers was Par Pacific ($PARR), which slid 7.1% after Credit Suisse analyst Manav Gupta downgraded the stock to Underperform from Neutral. Also lower was Vipshop ($VIPS), which fell 6.5% after Morgan Stanley analyst Eddy Wang downgraded the stock to Underweight.Source: (Briefing.com)(theFly.com) Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). 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