U.S. stocks close higher as tech rebounds

Traders work on the floor of the New York Stock Exchange

Traders work on the floor of the New York Stock Exchange

USA stocks were higher in early afternoon trading on Monday, with the S&P 500 and the Dow Jones Industrial Average hitting record highs as technology stocks rebounded after recent losses.

The Dow Jones Industrial Average finished up 0.7% at 21,528, the S&P 500 index closed up 0.8%, at 2,453, led by a a 1.6% rally in the tech-sector, the session's best performer among the S&P 500's 11 sectors.

U.S. stocks ended in the black on Monday, with the Dow and S&P 500 at record highs thanks to gains in the technology sector.

The Standard & Poor's 500 index rose 20.31 points, or 0.8 percent, to 2,453.46. Visit MarketWatch.com for more information on this news.

Clovis Oncology soared 41.8 percent to $85 after the biotechnology company's ovarian cancer drug was set for a label expansion.

Apple (AAPL.O) rose 2.9 percent to $146.34, providing the biggest boost to the S&P followed by JPMorgan Chase (JPM.N), which rose 2.2 percent to $88.07.

The S&P 500 index showed 49 new 52-week highs and 10 new lows, while the Nasdaq recorded 99 new highs and 87 new lows.

Last month, the US economy added 138,000 jobs, well below the expected gain of 185,000, while other data showed a fall in retail sales and inflation below the Fed's target of 2 percent.

Technology companies, health care stocks and banks are leading market indexes higher in midday trading on Wall Street.

Trading activity was somewhat subdued, however, as a lack of major US economic data kept some traders on the sidelines.

Significant strength was also visible among semiconductor stocks, as reflected by the 1.9 percent advance by the Philadelphia Semiconductor Index.

Apple was one of the biggest gainers, rising more than 1.9% in early trade. The S&P technology sector.SPLRCT was up 1.4 percent after its second straight weekly decline, which was triggered by fears of stretched valuations.

Nasdaq 100 e-minis were up 38 points, or 0.67 percent, on volume of 25,178 contracts.

"It looks like a bet that interest rates, such as the 10-year yield, are bottoming out", said Evans.

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

Notícias recomendadas

  • Russia Says Trump Using 'Cold War Rhetoric' on Cuba

    Russia Says Trump Using 'Cold War Rhetoric' on Cuba

    The share was even higher among those born in the United States, with 66% of the American-born population supporting the move. He challenged the communist government of Raul Castro to negotiate a better deal for Cubans and Cuban-Americans.
    California cyclist dies in Kansas during cross-country race

    California cyclist dies in Kansas during cross-country race

    The patrol says the car's 25-year-old driver and a 27-year-old passenger were taken to a hospital with possible injuries. Fishbein was competing in the 4,300-mile Trans Am Bike Race , which began June 3.
    Londres et l'UE lanceront bien les négociations le 19 juin — Brexit

    Londres et l'UE lanceront bien les négociations le 19 juin — Brexit

    Johnson s'est lui aussi projeté dans ce 'nouveau partenariat profond et spécial' que Londres dit vouloir bâtir avec Bruxelles . Davis , dans un communiqué, avant son arrivée à Bruxelles .
  • Bill O'Reilly promises to make news about his firing

    Bill O'Reilly promises to make news about his firing

    But I suspect there will be another network maybe merging with us. "There will be a network that rises up because the numbers for Fox are going down".

    Parametric Portfolio Associates LLC Increases Stake in Williams-Sonoma, Inc. (WSM)

    Finally, Oppenheimer Holdings, Inc. reiterated a "hold" rating on shares of Williams-Sonoma in a report on Thursday, March 16th. On average, equities analysts expect that Williams-Sonoma will post $3.56 earnings per share for the current fiscal year.
    Royals singer Lorde believes she is an underdog in the music industry

    Royals singer Lorde believes she is an underdog in the music industry

    Lorde believes she is an "underdog" in the music industry, and will stay that way until she's released "five awesome records". As well as releasing the highly-aniticpated album, Lorde also announced a worldwide tour.
  • Taurasi stands alone atop WNBA scoring list

    Taurasi stands alone atop WNBA scoring list

    Taurasi, averaging 18.1 points this year, passed Tamika Catchings for second on the WNBA scoring list early this season. She said in the weeks leading up to the historic points that she wasn't thinking about the record.
    79 now believed to have died in London high-rise fire

    79 now believed to have died in London high-rise fire

    Construction for the building was completed in 1974 and it underwent a renovation that was completed in May 2016. He said the situation has become an emergency and that "all assets" should be brought to the table.
    Joe Cole tells Chelsea to re-sign Romelu Lukaku

    Joe Cole tells Chelsea to re-sign Romelu Lukaku

    And Cole thinks Lukaku, along with Alexis Sanchez and Sergio Aguero , would be suitable signings to fill the void left by Costa. In any case, Cole suggests that his lack of Premier League experience would be a concern.
  • Central Portugal forest fires: 61 Dead, PM Calls Disaster a 'Tragedy'

    Central Portugal forest fires: 61 Dead, PM Calls Disaster a 'Tragedy'

    All available means of assistance have been mobilized towards Leiria, including four fire fighting aircraft sent from Spain. Ideally, he said, there should be firebreaks such as cleared woodland or farmland that help to stop a blaze in its tracks.
    Dems say they'll slow Senate work over secretive care bill

    Dems say they'll slow Senate work over secretive care bill

    The nonpartisan Congressional Budget Office says it would cause 23 million more Americans to be without health insurance by 2016. The clock is ticking. "They're ashamed of the bill", said Senate Minority Leader Chuck Schumer to the New York Times Thursday.
    Mamata Banerjee leaves for The Netherlands even as Darjeeling stir continues

    Mamata Banerjee leaves for The Netherlands even as Darjeeling stir continues

    The strike was called even after the Chief Minister assured that the new rule would not be imposed in the hill districts. Banerjee said. "I appeal to the people living in Darjeeling and nearby areas to remain calm and peaceful".

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.