The Dow Jones Industrial Average climbed to 27584, the S&P 500 jumped to 3351, and the Nasdaq 100 rose to 11364
On Monday, U.S. stocks continued their rally. The Dow Jones Industrial Average jumped 410 points (+1.51%) to 27584, the S&P 500 rose 53 points (+1.61%) to 3351, and the Nasdaq 100 was up 213 points (+1.91%) to 11364.
Investors shopped for bargain stocks after the Dow and the S&P 500 fell for four weeks.
Banks (+2.73%), Automobiles & Components (+2.68%) and Insurance (+2.42%) sectors gained the most. Devon Energy (DVN +10.54%), Boeing (BA +6.42%) and Cimarex Energy (XEC +5.93%) were top gainers. Big tech shares – Apple (AAPL +2.39%), Amazon.com (AMZN +2.55%) and Tesla (TSLA +3.40%) – advanced further.
Approximately 57% of stocks in the S&P 500 Index were trading above their 200-day moving average and 21% were trading above their 20-day moving average.
U.S. Treasury prices declined, as the benchmark 10-year Treasury yield edged higher to 0.661%.
Spot gold rebounded $19.00 to $1,881 an ounce.
U.S. WTI crude oil futures (November) settled 0.9% higher at $40.60 a barrel.
On the forex front, the U.S. dollar softened against other major currencies as the ICE Dollar Index slipped 0.33% to 94.26. According to data from the U.S. Commodity Futures Trading Commission, speculative bearish bets against the Dollar Index have reached the highest level since November 2017.
EUR/USD rebounded 0.29% to 1.1666.
The British pound was boosted by optimism about progress in the last leg of trade talks between the U.K. and the European Union. GBP/USD jumped to a high of 1.2930 before retreating to close at 1.2835, up 0.69% on day.
USD/JPY declined to 105.49 from 105.58 last Friday.
Commodity-linked currencies were broadly higher. AUD/USD rose 0.51% to 0.7071 halting a 6-session losing streak. USD/CAD edged down 0.13% to 1.3370.
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