Economic news

U.S. stocks climb on trade optimism

Wall Street jumped at opening bell on Monday, underpinned by solid rise in trade-sensitive industrial and tech stocks amid pause in tensions between the world's two biggest economies.

Photo: Reuters

The Dow Jones Industrial Average rose 0.94 percent to 25,779.57. The S&P 500 inched up 1.10 percent, to 2,790.50. The Nasdaq Composite advanced 2.12 percent, to 7,486.13.

Auto makers benefited from trade war relief with shares in Ford Motor Co. surged 4.3 percent, and General Motors Co soared more than 2.8 percent. Shares of Daimler climbed more than 5 percent.

In tech sector, Amazon.com Inc. was 4.4 percent higher, Apple Inc. rose 2.2 percent and Netflix Inc. surged 3 percent.

Asian shares also jumped, with Japan’s Nikkei closed up 1 percent and the Shanghai Composite Index added 2.6 percent.

European shares also advanced in morning deals, with the Stoxx Europe 600 index soaring 1.3 percent.

Elsewhere gold prices were up 0.7 percent at $1,234.20 an ounce, while the ICE Dollar Index DXY skidded 0.2 percent.


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