The Nasdaq Composite reached a record closing on Monday, buoyed by strong performances from technology giants Nvidia and Microsoft. This marked the index’s second consecutive day of significant gains, as investors reacted to a decline in oil prices and anticipated upcoming corporate earnings reports. Meanwhile, global bond yields continued to rise, indicating ongoing shifts in fixed-income markets.

In corporate developments, France-based Schneider Electric announced an all-cash agreement to acquire US industrial software company PTC for $22.6 billion. The move aims to bolster Schneider Electric’s portfolio in the field of industrial artificial intelligence. Following the announcement, PTC’s shares surged by 33%.

In regulatory news, Texas Attorney General Ken Paxton initiated an investigation into UnitedHealth Group, alleging that the company engaged in illegal practices that have restricted Texans’ access to healthcare services. UnitedHealth Group did not immediately respond to requests for comment.

Shares of Sphere Entertainment fell 14% amid analyst concerns over weakening demand for the company’s production of “The Wizard of Oz” and uncertainties linked to its planned expansion in Maryland.

Additionally, PepsiCo issued a recall for approximately 122,021 cases of its Gatorade drinks, including Lemon Lime and Orange flavors, due to the presence of undeclared dyes, posing potential health risks to consumers.