News Worms
News Worms


How major US stock market indexes fared on Monday

How major US stock market indexes fared on Monday

USA stocks opened higher on Monday, with the Dow Jones Industrial Average hitting a record high, as investors snapped up beaten down technology stocks.

Health care (+1.1%) also was strong, highlighted by biotechs which were led by Biogen's 3.5% surge, along with financials (+1%) and consumer discretionary (+0.8%). Moving lower for the second straight week, the Nasdaq slid by 0.9 percent, but the Dow rose by 0.5 percent and the S&P 500 inched slightly higher. "Investors were temporarily chased from the space but many companies in the sector offer growth which is hard to find in the market as a whole."Apple (AAPL.O) rose 3.8 percent to $146.07, providing the biggest boost to technology followed by Microsoft (MSFT.O), Alphabet (GOOGL.O) and Facebook (FB.O)".

The S&P 500 index rose 0.5% to 2,445.26 and the Dow Jones was up 0.4% at 21,466.28. Nasdaq 100 e-minis were up 43.5 points, or 0.77 percent, on volume of 38,221 contracts.

This story has not been edited by Firstpost staff and is generated by auto-feed.

Amazon.com's (AMZN.O) Friday announcement that it would buy Whole Foods (WFM.O) and an upbeat tone from Federal Reserve speakers seemed to help reassure investors after the US central bank's rate hike last week, according to J. Bryant Evans, portfolio manager at Cozad Asset Management, in Champaign, Illinois. Amazon rose as much as 2.9 percent to an all-time high of $1017.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.19 percent.

The S&P 500 is up 214.63 points, or 9.6 percent.

The Fed commentary last week had surprised investors who expected more caution after some weak US economic data.

Clovis Oncology ( CLVS ) led the sector higher after the biopharmaceutical company announced positive late-stage trial data for its ovarian cancer drug.

Apple was one of the biggest gainers, rising more than 1.9% in early trade. With the upward move on the day, the Dow and the S&P 500 both climbed to new record closing highs.

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