Stocks closed higher Monday, extending notable gains from Friday as progress on the ongoing trade talks between the US and China lifted investor morale.
The Dow Jones Industrial Average and the S&P 500 each had gains of about 0.4%, while the Nasdaq Composite pulled the markets higher, up by 0.6%. Energy stocks led the S&P 500 sectors higher, rising 3% as oil prices increased. Utilities, real estate and consumer staples had the biggest losses for the day, both down by about 1%.
US officials said Friday that a trade deal could potentially be signed in November, while Commerce Secretary Wilbur Ross said that licenses for US companies to sell parts to Huawei Technologies would become available “very shortly,” according to Bloomberg News on Sunday.
In corporate news, companies reporting earnings results on Tuesday include Emerson Electric (EMR) and Peloton (PTON).
In commodities, West Texas Intermediate crude oil futures rose 0.6% to $56.55 per barrel. Natural gas was up 4% to $2.82 per 1 million BTU. Gold futures were up 0.8% to $1,512.60 an ounce, while silver was up 0.1% to $18.07 an ounce.
Among energy ETFs, the United States Oil Fund was up 1% to $11.11 while the United States Natural Gas Fund was up 4% to $22.27. Among precious-metal funds, the Vectors Gold Miners ETF was down 1.8% to $27.52, while SPDR Gold Shares were down 0.3% to $141.92.15. The iShares Silver Trust fell 0.4% to $16.85.
NYSE Composite Index was up 56.93 points (+0.43%) to 13,357.19
Dow Jones Industrial Average was up 114.75 points (+0.42%) to 27,462.11
S&P 500 was up 11.36 points (+0.37%) to 3,078.27
Nasdaq Composite Index was up 46.80 points (+0.56%) to 8,433.20
FTSE 100 was up 67.27 points (+0.92%) to 7,369.69
DAX was up 175.23 points (+1.35%) to 13,136.28
CAC 40 was up 62.41 points (+1.08%) to 5,824.30
Nikkei 225 market was closed on holiday
Hang Seng Index was up 446.54 points (+1.65%) to 27,547.30
Shanghai China Composite Index was up 17.29 points (+0.58%) to 2,975.49
(+) WMGI (+31.94%) Agrees to $30.75/share takeover by Stryker
(+) USM (+11.65%) JPMorgan upgrades shares to overweight from neutral
(+) RACE (+5.34%) Tops Q3 estimates
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(-) NSP (-33.58%) Q3 adjusted EPS misses Street view, guides Q4 below expectations
(-) UA (-18.35%) Justice, SEC probe company’s accounting practices, FY revenue view cut
(-) VEON (-3.620%) Misses Q3 estimates