US kicks off with gains as markets brace for rate hikes
Major stock markets on Wall Street opened the trading week in positive territory as investors prepared for the latest inflation data and rate hikes from central banks worldwide. The Fed was scheduled to announce its policy decision on Wednesday, a day after the November inflation data kicks in.
Microsoft soared more than 2% on the news it will buy a 4% stake in LSE Group. On the other hand, Amgen's shares fell over 1% after a merger deal announcement, while Merck & Co. also saw slight losses after bidding for Imago BioSciences.
The Dow Jones gained 0.22% at the opening bell. The Nasdaq 100 rose 0.15%. The S&P 500 increased by 0.19%. The euro climbed 0.31% against the dollar at 9:20 am ET to trade for 1.05624 and reach June highs, while the pound advanced 0.24% to $1.22869 and stood at early August levels.