NEW YORK (TheStreet) -- The S&P 500 smashed its way through 2,000 on Monday after a minor pullback, bolstering the case that the current rally will continue.
Watch the video below for a look at what's moving the markets:
After a tepid finish on Friday, a raft of deals headlines hit the markets on Monday and inspired heavy gains in the benchmark U.S. stock indices. The broad-based S&P 500 advanced 0.47% to 1,997.65 in the early afternoon hours after trading as a high as 2,001.95. The Dow Jones Industrial Average rose 0.51% to 17,087.43. The Nasdaq added on 0.35% to 4,554.17.
"Money managers are more scared of missing out on profits than the market tanking," said S&P Dow Jones Indices' senior index analyst, Howard Silverblatt.
Major U.S. stock indices finished higher for the week but mostly settled on a muted note on Friday as markets digested as-expected dovish remarks from Federal Reserve Chief Janet Yellen and as European Central Bank President Mario Draghi offered no new surprises on ECB monetary policy, sticking to his usual script of standing ready to adjust policy further. Positive economic news and traders front-running the view that Yellen would stay dovish pushed the broader market to its best weekly return in the last four months.
Deals news was heating up Monday. Burger King (BKW) is in talks to buy Tim Hortons (THI) , the Canadian coffee-and-doughnut chain, and form a new publicly listed company based in Canada. Burger King surged 20.4% to $32.64 and Tim Hortons soared 21.77% to $76.50.