Wall Street rises on improved risk sentiment
U.S. stocks on Monday delivered their best daily performances in more than a month as the risk appetite took control despite rising tensions between North Korea and the U.S. Bank and technology shares drew attention with their strong performance.
Commenting on last week's sharp fall witnessed in the indexes, Lindsey Bell, CFRA Research investment strategist, said that there were a three-day weekend and investors had time to better digest the information and realize that maybe they overreacted initially, which could be why we are seeing some green this morning. Later in the week, investors will be keeping a close eye on U.S. corporate earnings data.
On Monday, during a visit to South Korea, U.S. Vice President Mike Pence argued that North Korea would do well not to test the strength of the armed forces of the United States.
The Dow Jones Industrial Average added 183.67 points, or 0.9%, to 20,636.92, the S&P 500 rose 17.25 points, or 0.74%, to 2,349.01 and the Nasdaq Composite gained 51.64 points, or 0.9%, to 5,856.79.
Headlines from the U.S. session
- US did not intervene in currency markets - U.S. Treasury's Mnuchin - FT
- Is the FOMC ready to declare victory on inflation? - Wells Fargo
- Super-low real yields for longer is an anchor for the dollar - Socgen
- North Korea 'will test missiles weekly' - BBC
- US: Builder confidence holds firm in April - NAHB
- US is exploring the possibility of a bilateral trade agreement with Japan - BBH
- NY Fed: Headline general business conditions index fell eleven points to 5.2