All the three major US stock indices opened higher on Monday as markets recover from the losses incurred in the previous session.
The Nasdaq Composite advanced 1.09% to 20,875.06, whereas the Dow Jones Industrial Average rose 0.66% to 43,877.65.
Among the stocks that gained in early trade were Microsoft Corp., Walt Disney Co. and Nvidia Corp. Stocks like Boeing Co., Coca- Cola Co. and Procter & Gamble Co. slipped in the early minutes of trade.
Among the 11 S&P 500 sectoral indices, three were trading lower, while eight traded higher against the previous day's close. The gains were led by healthcare, consumer staple and Utilities.
“This week is a quiet one on the economic calendar, so traders may be taking their cues from earnings, along with any new tariff and trade developments,” said Chris Larkin at E*Trade from Morgan Stanley to Bloomberg.
Larkin also said that a major question looms around whether traders will view any signs of economic weakness as a market negative, or as a catalyst for the Fed to cut rates sooner rather than later.
As the US market opened, spot gold was trading 0.55% higher at $3,382.07, and Brent crude oil was trading 2.14% lower at $68.18.
The Bloomberg Dollar Index fell 0.2%, with the British pound rose 0.2% to $1.3305, while the Japanese yen rose 0.2% to 147.15 per dollar.
Bitcoin, the largest traded cryptocurrency changed little at $114,501.53
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