U.S. stocks rose Monday with the Dow Jones Industrial Average bouncing back from a four-session losing streak as investors tried to look beyond the looming threat of a global trade war and instead focused on positive economic data.
The Dow DJIA, +0.75% bounced back from an earlier decline to gain 132 points, or 0.5%, to 24,470.
The S&P 500 index SPX, +0.77% rose 16 points, or 0.6%, to 2,707 with all 11 subsectors trading higher. The Nasdaq Composite Index COMP, +0.76% added 34 points, or 0.5%, to 7,292.
Last week, stocks logged hefty losses, with the Dow dropping 3% and notching its fourth-straight-session loss. The S&P 500 shed 2% for the week and the Nasdaq declined 1.1%.
Rattling some investors was news that Sunday’s Italian election is expected to end in a hung parliament, as populist euroskeptic parties made a better showing than forecast. That is seen as signaling a protracted period of political uncertainty for the eurozone’s fourth-biggest economy.
via MarketWatch
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Alfonso Esparza