US Markets Rise in Mid Day Trading

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

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza