World Market

 Stocks Gain Amid Deals Optimism; Dollar Weakens: Markets Wrap

U.S. stocks rose for a second day amid a flurry of deal activity and signs of progress toward a coronavirus vaccine. The dollar weakened and Treasuries were little changed.

Oracle Corp. jumped 4.3% on reports the company beat Microsoft Corp. in negotiations for the U.S. operations of TikTok. Immunomedics Inc. almost doubled after Gilead Sciences Inc. agreed to buy the cancer drugmaker for $21 billion.

The S&P 500 touched a week high before paring gains, while the Nasdaq 100 Index broke a two-day slide.

Asian stocks looked poised to drift Tuesday after snapping two weeks of declines Monday. U.S. shares rose for a second day amid a flurry of deal activity, while the dollar weakened. Futures dipped in Japan and Australia and were little changed in Hong Kong. The S&P 500 touched a week high before paring gains, while the Nasdaq 100 Index broke a two-day slide. Positive vaccine comments from Pfizer’s CEO, which boosted Asian shares Monday, helped sentiment. Treasuries were little changed. Elsewhere, the pound strengthened as U.K. Prime Minister Boris Johnson faced a rebellion in Parliament against legislation that would override key elements of the divorce treaty signed with the European Union. Oil was little changed around $37 a barrel.