Dow rallies 400 points | Big dealmaking activity | U.S. 'not in a good place,' Fauci says

They don't call it "Merger Monday" for nothing.

VIEW IN BROWSER | SUBSCRIBE MON, SEP 28, 2020 EVENING BRIEF AS OF MON, SEP 28, 2020 • 04:20 ET DJIA 27584.06 +1.51% +410.10 S&P 500 3351.60 +1.61% +53.14 NASDAQ 11117.53 +1.87% +203.96   Most Active DOW NAME LAST CHG %CHG AAPL 114.96 +2.68 +2.39% BA 166.08 +10.05 +6.44% MSFT 209.44 +1.62 +0.78% S&P 500 NAME LAST CHG %CHG AAPL 114.96 +2.68 +2.39% GE 6.20 +0.09 +1.47% AAL 12.76 +0.47 +3.82% NASDAQ NAME LAST CHG %CHG AAPL 114.96 +2.68 +2.39% AAL 12.76 +0.47 +3.82% TSLA 421.20 +13.86 +3.40%   EDITOR'S NOTE They don't call it "Merger Monday" for nothing.   A slew of corporate deals was announced to start the week, lifting sentiment across the broader market.   In the energy sector, Devon Energy and WPX Energy said they will move forward with a merger of equals. The deal would create a company with an enterprise value of about $12 billion. Caesars Entertainment also disclosed a cash offer to buy London-based sports betting site William Hill for £2.9 billion ($3.7 billion). Meanwhile, Cleveland-Cliffs announced it will buy ArcelorMittal's U.S. operations for $1.4 billion.   All of those stocks except William Hill were higher on Monday along with the S&P 500. The broader market index rallied more than 1.5% for its biggest one-day gain since Sept. 9, when it popped 2%. The rally also builds on Friday's sharp gains.   Equities also got a boost as House Speaker Nancy Pelosi, D-Calif., indicated that a last-minute coronavirus aid deal remains on the table as House Democrats try to forge ahead on a smaller relief package costing about $2.4 trillion. Still, that price tag is well above what Republican leadership has indicated it will support for new legislation.   "We are very cautious in our optimism for a bill before November, but more confident that support will come either in a lame duck session or after inauguration," said Katie Nixon, CIO at Northern Trust Wealth Management, in a note.    Don't miss CNBC and Institutional Investor's Delivering Alpha conference on September 30, featuring Treasury Secretary Steven Mnuchin, Senator Elizabeth Warren, Alibaba's Joseph Tsai, Vista Equity Partners' Robert Smith, J.P. Morgan's Mary Callahan Erdoes, Inclusive Capital's Jeff Ubben and more. Fred Imbert | CNBC Markets Reporter @foimbert TOP NEWS  Dow closes more than 400 points higher to start the week, led by banks and tech Official coronavirus death toll is likely an 'underestimate' of the true total, WHO says Virgin Galactic jumps nearly 25% as Street continues to recommend the space tourism company The economy, Covid-19 and racial inequality are voters' top concerns ahead of the first Trump-Biden debate Cyberattack hits major U.S. hospital system United, pilots agree on schedule reductions to avoid nearly 3,000 furloughs Plug Power has 'rapid growth potential,' Morgan Stanley says in upgrade The U.S. is 'not in a good place' as daily coronavirus cases grow beyond 40,000, Fauci says Trump vs Biden: Here are the health-care stocks that could benefit from the 2020 election Wife of ex-Trump campaign manager Brad Parscale says he hits her and was suicidal before police standoff   TOP VIDEO How wildfires throughout California's wine country may impact business long-term   CNBC PRO Mike Santoli's market notes: Don't make too much of the rally, taking the bull case on virus spread   SPECIAL REPORTS Study: Big Tech, electric vehicle stocks popular among Millennial investors As holidays approach, CDC puts shopping at crowded stores on Black Friday in high-risk category   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS