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Stocks- Wall Street Opens Higher as Trade Concerns Pause

Investing.com
Wall Street opened higher on Monday.
Wall Street opened higher on Monday.

Investing.com – Wall Street was higher as last week’s jobs report eased trade war worry.

The S&P 500 gained 15 points or 0.58% to 2,775.80 as of 9:41 AM ET (13:41 GMT) while the Dow composite increased 199 points or 0.81% to 24,655.50 and tech heavy NASDAQ Composite was up over 46 points or 0.61% to 7,735.11.

Markets were pushed higher after the U.S. added more jobs than expected in June, helping ease trade tensions. The upbeat data boosted expectations that the Federal Reserve would continue to gradually increase interest rates.

Technology stocks were higher after the morning bell, with Netflix (NASDAQ:NFLX) gaining 1.69%, Apple (NASDAQ:AAPL) up 0.94% and Facebook (NASDAQ:FB) rising 1.01%. Discount coupon firm Groupon Inc (NASDAQ:GRPN) surged 13.02% after reports that it is looking for a buyer while Bank of America (NYSE:BAC) rose 1.16% and General Electric (NYSE:GE) was up 0.97%.

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Elsewhere Procter & Gamble Company (NYSE:PG) lost 1.61% after Jefferies downgraded the company to hold from buy based on a number of headwinds while Twitter Inc (NYSE:TWTR) fell 1.16%.

In political news, U.S. President Donald Trump is expected to announce his nominee choice for the Supreme Court justice to replace retiring judge Anthony Kennedy tonight at 9:00 PM ET (01:00 GMT).

In Europe stocks were up. Germany’s DAX rose 28 points or 0.23% while in France the CAC 40 increased 15 points or 0.30% and in London, the FTSE 100 was up 19 points or 0.25%. Meanwhile the pan-European Euro Stoxx 50 gained 10 points or 0.30% while Spain’s IBEX 35 inched up 24 points or 0.24%.

In commodities, gold futures rose 0.70% to $1,264.60 a troy ounce while crude oil futures decreased 0.19% to $73.66 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, slumped 0.21% to 93.56.

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