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Tech Stocks Lead Rally

Tech companies took the lead with the Dow rising 80 points to 24,904. The tech-heavy Nasdaq climbed 42 points to 7050.


On the upside


Roku (Nasdaq: ROKU) will license a voice assistant program to hardware makers selling Roku-branded speakers and audio systems.


Shares of South Carolina energy company Scana (NYSE: SCG) surged after it agreed to be bought by Dominion Energy (NYSE: D) in a $7.9 billion stock deal.


Software maker Oracle (Nasdaq: ORCL) finally joined the new year's rally after stewing on reports that Amazon (Nasdaq: AMZN) and Salesforce (NYSE: CRM) may be building its own database software.


On the downside


MoneyGram (NYSE: MGI) shares tumbled after it called off a merger with Ant Financial, an affiliate of Jack Ma's tech company Alibaba (Nasdaq: BABA). It was not able to secure approval of the deal from the Treasury Department which chairs the Committee on Foreign Investment in the United States.


Social media ambassador DJ Khaled signed on to Weight Watchers (NYSE: WTW) to attract more young men to join the program. The stock eased giving up some of yesterday's gains.


American Airlines (Nasdaq: AAL) and Southwest Airlines (NYSE: LUV) have announced plans to give their employees one-time bonuses of $1000 each as a result of lower potential tax bills.


In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on both the NYSE and Nasdaq. The broader S&P 500 climbed 12 points to 2,708. Bitcoin rose $220 to $15,022.


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