Wall Street kicked off the week with a rally as investors looked beyond a standoff with North Korea and rediscovered their appetite for riskier assets. It was the S&P 500's best day since April 24 and the third best daily increase of the year. VMWare Inc. (VMW) rose after issuing preliminary second-quarter results and increasing its fiscal 2018 guidance. The tech company also authorized an additional $1 billion in stock buybacks, adding to the $1.2 billion already in its repurchase program. Sysco Corp. (SYY) reported a better-than-expected fourth quarter. Revenue increased 5.5% to $14.4 billion, edging out consensus by $60 million. The foodservice distribution company reported a 3.4% increase in comparable sales. Gross margins rose by 80 basis points to 19.14%. Apple Inc. (AAPL) and Aetna Inc. (AET) rose on reports the two had engaged in discussions to partner. Talks reportedly included the possibility of delivering free or discounted Apple Watches to Aetna members.
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