We're in the middle of a wave of mergers and acquisitions. It's one of the essential motors for stocks this year.
Mergers and acquisitions are a motor for stocks. This is supporting the market. The financial environment is historic for takeovers. Interest rates are low, and companies have reduced debt and built up a lot of cash.
The theme of mergers and acquisitions is going to remain a real motor for stocks. No industry is sheltered from it. Today is another demonstration of that.