The stock market is on track for a higher opening to start the week after the major averages have notched gains in the past two consecutive weeks. On Friday, the S&P 500 closed just 0.7% off of its all-time high from October 29.
Meanwhile, the Nasdaq Composite is 1.8% off of a record high of its own, while the DJIA has 4.5% to gain before notching a new record.
In M&A news, IBM (IBM 308.15, +0.21, +0.1%) confirms plans to acquire Confluent (CFLT 29.91, +6.77, +29.3%) for $31 per share, representing an enterprise value of $11 billion. Confluent will be acquired with available cash on hand.