January 7, 2019 - 12:32 PM EST
Print Email Article Font Down Font Up Charts

Trade Talks Light Fire Under Markets

Stocks rose in volatile trade on Monday as investors pored through the latest U.S.-China trade developments and equities added to a massive rally in the prior trading session.

The Dow Jones Industrial Average jumped 163.64 points to 23,596.80

The S&P 500 strengthened 25.9 points, or 1%, to 2,557.84, led by the consumer discretionary sector.

Energy stocks also powered the S&P higher, as Cabot Oil and Hess rose ore than 3.5% each. Energy stocks got a boost from a 3.3% surge in U.S. oil prices.

The NASDAQ Composite gained 92.62 points to 6,833.40, as Amazon shares rose more than 3%.

Amazon shares rose after Pivotal Research Group initiated the company with a buy rating. The research firm said Amazon's opportunities this year are “mostly unconstrained,” adding the stock could surge as much as 20%

The Chinese foreign ministry said Monday that China and the U.S. have expressed an eagerness to work together. The ministry also added China stands ready to resolve trade disputes with the U.S. on an equal footing.

Prices for the benchmark for the 10-year U.S. Treasury faded, raising yields to 2.68% from Friday's 2.66%. Treasury prices and yields move in opposite directions.

Oil prices gained $1.18 to $49.14 U.S. a barrel.

Gold prices gained $3.60 at $1,289.40 U.S. an ounce.

Source: Livemoney (January 7, 2019 - 12:32 PM EST)

News by QuoteMedia

Legal Notice