Dow higher as Wall Street starts week in better mood

Dow higher as Wall Street starts week in better mood

Dow higher as Wall Street starts week in better mood

United States stocks gained for a second straight session on Monday as investors waded back into the market after Wall Street's biggest weekly drop in two years.

Asian shares tracked an overnight rally on Wall Street, with China leading Tuesday's gains.

Under Armour (NYSE:UA), which soared during the day, lost 0.26% to close at US$15.31, after hitting a high of US$15.65 earlier, following strong quarterly sales. As Trump keeps saying on Twitter, the U.S. economy also looks solid, with unemployment at a 17-year low. Eastern time. The Dow rose 424 points, or 1.8 per cent, to 24,615.

On Wall Street, many companies that rose the most over the a year ago have borne the brunt of the selling.

While the markets were repeatedly marching though record high territory over the past year, even mediocre companies benefited, analysts said. March E-mini Dow Jones Industrial Average futures are at 24403, down 180 or -0.73% and March E-mini NASDAQ-100 Index futures are at 6497.25, down 34.50 or -0.53%. Both S&P 500 and Nasdaq futures indicated a negative beginning to the Tuesday's trade. Apple gained $6.30, or 4 percent, to $162.71 while Cisco Systems rose $1.07 to $40.60.

Student brings unloaded gun to Lee's Summit North High School, administrators say
In a letter released to families, a student reported to school administration of another student stealing a cell phone. Plano West's SRO investigated the tip, made contact with the student and discovered a handgun in his possession.

US stocks went on another bumpy ride on Wall Street, dropping sharply in early trading before recovering their losses by lunch time. Fears of more aggressive interest rate hikes were one of the triggers of last week's stock market sell-off. They're also now all in the red for the year. The Russell 2000 index of smaller-company stocks advanced 12 points, or 0.8 per cent, to 1,490. Dow delivered its worst performance since January 2016. The benchmark S&P 500 Index and the tech-based NASDAQ Composite also finished higher. After repeatedly breaking records, investors had pushed stock prices too high and it was time for a correction, said Jack Ablin, chief investment officer at Cresset Wealth.

The movements seen in USA futures come on the back of a strong finish Monday, when the Dow Jones industrial average closing up more than 400 points.

US stocks moved sharply higher in early trading Friday, recouping some of the ground lost a day earlier when indexes plummeted, deepening a weeklong sell-off that knocked the market into a "correction" for the first time in two years. Markets in Japan were closed for a holiday. Technology companies and banks, some of the biggest winners on the market over the past year, are up the most. Brent crude, used to price global oils, advanced 43 cents to $63.22 a barrel in London. The S&P 500, meanwhile, posted moves greater than 1 percent in four-of-five trading days last week. Copper added 5 cents, or 1.7 percent, to $3.09 a pound. Chipmaker Applied Materials climbed 95 cents, or 2 per cent, to $49.03.

Treasurys sold off on Monday, with the yield on the 10-year note rising 5 basis points to 2.88%.

Related news