Market Movements Amid Big Corporate Deals and Visa Concerns

U.S. stock markets showed mixed movements on Monday, influenced by major corporate deals, including Pfizer's acquisition of Metsera and Compass buying Anywhere. Visa policy uncertainties under Trump's administration impacted tech companies. Meanwhile, interest rate cuts boosted major indexes as Wall Street logged its third consecutive week of gains.

U.S. stock markets exhibited mixed outcomes following fresh corporate deals and visa policy uncertainties. On Monday, Pfizer announced its $7.3 billion acquisition of Metsera, while brokerage firm Compass agreed to acquire Anywhere for $4.2 billion. These developments influenced market sentiments, especially amid concerns over Trump's visa policies.

The big tech sector, reliant on H-1B visas, faced pressure as the Trump administration proposed a $100,000 fee. The policy shift impacted Microsoft's weights on the Dow. In contrast, Apple gained 2.4% due to increased demand for the iPhone 17, reaching an eight-month high along with Tesla, thus bolstering the Nasdaq to a record.

The Federal Reserve's indication of further interest rate cuts lifted Wall Street with the S&P 500 and Nasdaq achieving their third consecutive week of growth. Amid mixed performances in September, all major indexes remain positive, underscoring resilience in a historically tricky month for equities.

(With inputs from agencies.)