Major stock exchanges on Wall Street extended gains on Monday, as investors digested Credit Suisse takeover deal that seemingly lifted the sentiment in the markets. The acquisition's short-lived optimism appreared to conceal the looming crisis in the banking sector, with the bid leaving Credit Suisse's bondholders unprotected in the buyout process.
The Dow Jones Industrial Average surged 347 points or 1.08% at 11:55 am ET. At the same time, the S&P 500 rose 0.71%, while the Nasdaq 100 lost 0.09%.
The euro gained 0.43% against the greenback, changing hands to $1.07149 at 11:50 am ET.
