United States markets open higher amid technology rebound

United States markets open higher amid technology rebound

United States markets open higher amid technology rebound

US stocks opened higher on Monday as technology stocks tried to recover from last week's weak performance.

New York Fed President William Dudley said Monday that the central bank inflation should pick up as wages rise along with continuing improvement in the labor market.

The Dow Jones Industrial Average rose 69.3 points, or 0.32 percent, to 21,453.58.

Apple (AAPL.O) rose 2.9 percent to $146.34, providing the biggest boost to the S&P followed by JPMorgan Chase (JPM.N), which rose 2.2 percent to $88.07.

The S&P 500 gained 9.98 points, or 0.41 percent, to 2,443.13.

The S&P 500 index showed 49 new 52-week highs and 10 new lows, while the Nasdaq recorded 99 new highs and 87 new lows.

The gains Monday put major USA indexes further into record territory.

USA markets opened modestly higher on Monday, as technology stocks rebounded after sell-offs last week. "Investors were temporarily chased from the space but many companies in the sector offer growth which is hard to find in the market as a whole."Apple (AAPL.O) rose 3.8 percent to $146.07, providing the biggest boost to technology followed by Microsoft (MSFT.O), Alphabet (GOOGL.O) and Facebook (FB.O)". The Nasdaq Composite (COMP - 6,239.01) bounced back a whopping 87.3 points, or 1.4%, to mark its best percentage gain since November 7, 2016. Amazon's stock was about 1 percent higher.

Significant strength was also visible among semiconductor stocks, as reflected by the 1.9 percent advance by the Philadelphia Semiconductor Index.

Health care (+1.1%) also was strong, highlighted by biotechs which were led by Biogen's 3.5% surge, along with financials (+1%) and consumer discretionary (+0.8%).

The Nasdaq is up 855.90 points, or 15.9 percent.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.17 percent.

The S&P 500 Index (SPX - 2,453.46) ended with a gain of 20.3 points, or 0.8%, after an all-time peak of its own.

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