U.S. stocks opened sharply higher on Monday as investors eagerly awaited a vote on a bill that would cut corporate taxes. A slew of corporate deals also helped lift sentiment.

The Dow Jones industrial average jumped about 200 points. The S&P 500 gained 0.6 percent, with financials and tech as the best-performing sectors. The Nasdaq composite advanced 0.6 percent.

The major averages hit intraday records at the open.

"I think this is largely predicated on the belief that the tax plan is going to be passed tomorrow," said Robert Pavlik, chief investment strategist at SlateStone Wealth. "With the belief that corporate taxes will go down, ... investors think the market is not too expensive."

Congress is expected to vote as early as Tuesday on a plan that would slash the federal corporate tax rate to 21 percent from 35 percent. Passing the bill would mark a big legislative win for Republicans, who have been pushing to revamp the U.S. tax code for most of 2017.

Equities have risen sharply this year, as investors have awaited the overhaul. The S&P 500 was up 19.5 percent for 2017 entering Monday's session.

The major indexes closed at record highs on Friday, after Republican senators Bob Corker and Marco Rubio signaled their support for the bill. Initially, they said they'd vote against the measure.

Wall Street also got a slew of corporate news on Monday.

Campbell Soup announced it will buy Snyder's-Lance for nearly $4.9 billion. CNBC reported last week that Campbell was in advanced talks to acquire the snacks maker.

Chocolate maker Hershey said announced a deal to buy Amplify Snack Brands, the maker of Skinny Pop popcorn, for $12 per share, or 71 percent more than Friday's close of $7.

Elsewhere, Oracle said it will buy Aconex — a software company based in Australia — for $1.2 billion.