Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.2%), Nasdaq Composite (+0.3%), and DJIA (+0.1%) are decently improved from their opening levels as gains widen in today's advancing sectors.

The health care sector (+0.3%) now joins the information technology (+0.5%) and consumer discretionary (+0.3%) sectors in positive territory. 

Pfizer (PFE 24.52, +0.49, +2.04%) announced it will acquire clinical-stage biotech Metsera (MTSR 54.08, +20.76, +62.30%) in a cash-and-contingent value rights deal worth up to $70 per share, as it seeks a foothold in the fast-growing obesity drug market. The deal includes $47.50 per share in cash, which is a 43% premium to MTSR's closing price last Friday—plus up to $22.50 in milestone payments tied to the development and commercial success of MTSR's lead candidate, MET-097i.

Meanwhile, Moderna (MRNA 26.80, +1.56, +6.18%) is the sector's top advancer today.