Dow Jones Surges Almost 400 Points Following Major Tech Deals

The stock market rallied on Monday, driven in part by some major tech deals. The Dow Jones Industrial Average (DJINDICES: ^DJI) was up 1.3% just before noon EDT, trailing the other major U.S. stock indices.

There were three deals of note driving the market higher. Verizon (NYSE: VZ) agreed to acquire Tracfone; Microsoft (NASDAQ: MSFT) and Walmart (NYSE: WMT) lost out to Oracle (NYSE: ORCL) in a deal for TikTok's U.S. operations; and NVIDIA (NASDAQ: NVDA) agreed to acquire ARM Holdings in a move that could threaten Intel (NASDAQ: INTC) in the data center.

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Source Fool.com