Wall Street clocked another winning week after opening in the green on Friday despite uncertainty regarding the Iran war and rising crude oil prices.
Dow Jones Industrial Average touched a fresh record high after jumping over 360 points and opened 0.72% higher at 50,649.21, S&P 500 opened 0.56% higher at 7,487.52 and tech-heavy Nasdaq Composite index rose 0.60% to open at 25,452.24.
This is the eighth consecutive week of gains for the wider S&P 500, which rebounded from war induced lows sharply and rallied 18%.
The bond market stabilised after a flurry of selloff that drove global yields to multi-year highs, driving treasury yields lower. The yield on 10-year Treasuries declined four basis points to 4.53%.
(This is a developing story)
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