One of the big worries hurting stocks this month has been fears that the market climbed too high and got too expensive through its 60 percent rally from late March into early September. But several companies announced big mergers and acquisitions, which show that at least some CEOs see value at current prices. Energy stocks made broad gains after Devon Energy and WPX Energy agreed to combine in an all-stock deal. Devon Energy led the S&P 500 companies higher, climbing b y 11.1 percent. WPX Energy won 16.4 percent.

Source: The Standard September 29, 2020 01:27 UTC