Wall Street stocks climbed on Monday ahead of Big Tech earnings and the final phase before the November 5 US presidential election.
At 11:51 am the Dow Jones Industrial Average rose 272.42 points, or 0.65 per cent, to 42,386.82, the S&P 500 gained 23.64 points, or 0.41 per cent, to 5,831.76, and the Nasdaq Composite gained 100.38 points, or 0.53 per cent, to 18,618.98.
As of 10 am Eastern time, the Dow Jones Industrial Average rose 298.63 points, or 0.71 per cent, to 42,413.03, the S&P 500 gained 27.49 points, or 0.47 per cent, to 5,835.61, and the Nasdaq Composite gained 107.00 points, or 0.58 per cent, to 18,625.61.
At the opening bell, the Dow Jones Industrial Average rose 150.1 points, or 0.36 per cent, to 42,264.54. The S&P 500 rose 25.8 points, or 0.44 per cent, to 5,833.93, while the Nasdaq Composite rose 129.6 points, or 0.70 per cent, to 18,648.252.
Stocks of Alphabet rose 1 per cent, Meta Platforms added 0.8 per cent and Microsoft was 0.3 per cent higher, ahead of their results later in the week.
Apple and Amazon.com will also report earnings this week.
Shares of Trump Media & Technology Group, the company that tends to move more with Trump’s re-election odds, jumped 16.7 per cent to $45.46.
Boeing stock shed 1.8 per cent after the planemaker launched a share sale that could raise up to $19 billion in a bid to shore up its finances amid an ongoing worker strike.
3M jumped 3.5 per cent after JP Morgan raised its price target on the company’s stock.
In the bond market, the yield on the 10-year Treasury edged up to 4.25 per cent from 4.24 per cent late on Friday.
Bullion
Gold prices fell on Monday, weighed down by a stronger US dollar and higher Treasury yields.
Spot gold lost 0.5 per cent to $2,732.98 an ounce by 1230 GMT. US gold futures declined 0.3 per cent to $2,745.10.
Spot silver was down 0.8 per cent at $33.42 an ounce.
Crude oil
Oil prices tumbled by nearly $5 a barrel on Monday after Israel’s retaliatory strike against Iran at the weekend bypassed oil and nuclear facilities.
By 1302 GMT, Brent was down $4.80, or 6.31 per cent, at $71.25 a barrel while US West Texas Intermediate lost $4.78, or 6.7 per cent, to $67.00.
