Stocks rise and Treasuries fall in a risk-back-on dayDow +465.83 at 28138.64, Nasdaq +257.47 at 11332.41, S&P +60.18 at 3408.60 [BRIEFING.COM] The S&P 500 rose 1.8% on Monday in a risk-on trade, as investors received positive news on President Trump's health, stimulus talks, and economic data. The Dow Jones Industrial Average (+1.7%) kept pace with the benchmark index, but the advantage today belonged to the Nasdaq Composite (+2.3%) and Russell 2000 (+2.8%). Briefly, President Trump said he would leave the hospital tonight after responding well to several coronavirus treatments, including one from Regeneron ($REGN 605.08, +40.28, +7.1%); House Speaker Pelosi and Treasury Secretary Mnuchin reportedly made progress on relief talks; and the ISM Non-Manufacturing Index for September increased to 57.8% (Briefing.com consensus 55.6%) from 56.9% in August. The news cycle fueled a growth mindset that lifted all 11 S&P 500 sectors into positive territory, boosted small-cap stocks, buoyed crude prices ($39.29/BBL, +2.24, +6.1%) by 6%, and steepened the U.S. Treasury yield curve amid selling in longer-dated maturities. The energy (+2.9%), information technology (+2.3%), and health care (+2.1%) sectors claimed today's leadership positions with gains over 2.0%. The real estate sector underperformed with a 0.6% gain, but the rate-sensitive space had traded lower for most of the session amid the higher Treasury yields. The 2-yr yield increased one basis point to 0.14%, while the 10-yr yield rose six basis points to 0.76% -- its highest closing level since June. The U.S. Dollar Index fell 0.4% to 93.46. Another positive factor for trading sentiment was the S&P 500 clearing its 50-day moving average (3365) at the open and never looking back the rest of the session. The benchmark index also topped the 3400 level for the first time since mid-September. In corporate news, Bristol Myers Squibb ($BMY 59.20, +0.48, +0.8%) agreed to acquire MyoKardia ($MYOK 220.34, +80.74, +57.8%) for approximately $13 billion, or \/SHARE"}==!>, in cash. Reviewing Monday's economic data: The ISM Non-Manufacturing Index for September increased to 57.8% (Briefing.com consensus 55.6%) from 56.9% in August. Notably, the September index eclipsed the 57.3% reading registered in February.The key takeaway from the report is that it had all the right undertones to promote recovery views: new orders increased, the backlog of orders decreased, supplier deliveries slowed, prices were up, albeit at a slower pace, and employment levels grew following six months of contraction.The Markit Services PMI for September increased to 54.6 from 55.0 in August. Looking ahead, investors will receive the Trade Balance report for August and the JOLTS - Job Openings report for August on Tuesday. Nasdaq Composite +26.3% YTDS&P 500 +5.5% YTDDow Jones Industrial Average -1.4% YTDRussell 2000 -5.2% YTD Market Snapshot Dow28138.64+465.83(1.68%)Nasdaq11332.41+257.47(2.32%)SP 5003408.60+60.18(1.80%)10-yr Note -29/320.771NYSEAdv 2255 Dec 763 Vol 849.2 mlnNasdaqAdv 2584 Dec 889 Vol 3.5 bln Industry Watch Strong: Energy, Information Technology, Health Care, MaterialsWeak: Real Estate Moving the Market -- Risk-on day following positive news on President Trump's health, stimulus talks, economic data-- Strength in the energy, technology, and health care sectors-- WTI crude futures rebound 6%, Treasury curve steepens due to selling on longer-end of curveStocks end higher as Trump returns to the White House - hopes of stimulus Stocks were supported by a number of developments, including indications that President Donald Trump was doing better and could be discharged from Walter Reed hospital as soon as today. President Trump announced his plans to leave the hospital in a tweet late in the trading day, after which his physicians confirmed that his clinical status supports a discharge from Walter Reed and return to the White House, where he will continue to receive care for his COVID-19 diagnosis. Stocks were also helped by fresh hopes for a stimulus deal in Washington and optimism for a Brexit solution after UK Prime Minister Boris Johnson and EU Commission President Ursula von der Leyen agreed to extend talks ahead of an October 15 EU summit. ECONOMIC EVENTS: In the U.S., Markit's services PMI held at 54.6 in the final September reading, unrevised from the flash figure. The ISM services index rose 0.9 points to 57.8 in September, which was better than expected. Data from the Johns Hopkins Whiting School of Engineering shows there are now 35.25M confirmed cases of COVID-19 worldwide, including 7.4M in the U.S., and 1.04M deaths due to the disease, including roughly 210,000 in the U.S. Meanwhile, Drew Hammill, deputy chief of staff for House Speaker Nancy Pelosi, said that Pelosi and Treasury Secretary Steven Mnuchin spoke by phone earlier Monday and "discussed the justifications for various numbers and plan to exchange paper today in preparation for another phone call tomorrow." President Trump tweeted that he will be leaving Walter Reed Medical Center today at 6:30 pm ET, saying he is "feeling really good." The president had been admitted to the hospital on Friday after being diagnosed with COVID-19. In the same tweet, the President stated: "Don't be afraid of Covid. Don't let it dominate your life. We have developed, under the Trump Administration, some really great drugs & knowledge." TOP NEWS: In M&A news, Bristol Myers Squibb (BMY) announced an agreement to acquire MyoKardia (MYOK) for $13.1B, or $225.00 per share in cash. The transaction, which is anticipated to close during the fourth quarter, is expected to be minimally dilutive to Bristol Myers Squibb's non-GAAP EPS in 2021 and 2022 and accretive beginning in 2023, the company said. The acquisition of MyoKardia should "provide a significant boost to speculation" as to whether Cytokinetics ($CYTK) is taken out by global partner Amgen ($AMGN), or even someone else, H.C. Wainwright analyst Joseph Pantginis told investors following the deal announcement. Meanwhile, Citi analyst Mohit Bansal highlighted Epizyme ($EPZM) and Karuna Therapeutics ($KRTX) as potential targets following MyoKardia's pact to be acquired. Shares of Regeneron (REGN) rose 7.1% after the company confirmed after the close on Friday that it provided a single 8 gram dose of REGNCOV2, a cocktail of two monoclonal antibodies, for use by President Trump after he was diagnosed with COVID-19. Movie theatre operators AMC Entertainment ($AMC) and Cinemark ($CNK) fell 11.2% and 17.4%, respectively, following the announcement from Cineworld ($CNNWF), parent company of Regal, that it will be temporarily suspending operations at all of its 536 Regal theatres in the U.S., as of October 8. MAJOR MOVERS: Among the noteworthy gainers was Eidos Therapeutics ($EIDX), which surged 41.6% after BridgeBio ($BBIO) agreed to acquire all of the outstanding common stock of Eidos it does not already own. Also higher was ImmunoGen ($IMGN), which gained 14.2% after announcing that the FDA has granted Breakthrough Therapy designation for IMGN632 for the treatment of patients with relapsed or refractory blastic plasmacytoid dendritic cell neoplasm. Among the notable losers was DraftKings ($DKNG), which fell 5.1% after it announced that it has commenced an underwritten public offering of 32M shares of its Class A common stock, consisting of 16M shares being offered by DraftKings and 16M shares being offered by certain selling stockholders of DraftKings.Source: (Briefing.com)(theFly.com) Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page. . 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