U.S. stock indices recovered from losses triggered by Paris attacks and closed higher on Monday. Travel-related stocks remained under pressure; however experts say that the influence of events in Paris will not last long.
The Dow Jones Industrial Average rose 237.77 points, or 1.4%, to 17,483.24. The S&P 500 gained 30.15 points, or 1.5%, to 2,053.19 (all of its 10 sectors rose). The Nasdaq Composite climbed 56.73 points, or 1.2%, to 4,984.62.
NY Fed Empire State manufacturing index slightly improved in November, but missed forecasts. The index rose to -10.74 this month from -11.36 in October, while economists had expected a reading of -6.25 points.
Market participants are waiting for FOMC meeting minutes, which will be released on Wednesday. Earlier Fed Vice Chairman Stanley Fischer said that December might be the right time for a liftoff in the benchmark interest rate.
This morning in Asia Hong Kong Hang Seng surged 2.07%, or 456.39, to 22,467.21. China Shanghai Composite Index rose 1.36%, or 49.00, to 3.655.96. The Nikkei 225 gained 1.61%, or 312.89, to 19,706.58.
Asian indices rose following gains in U.S. equities. Japanese stocks were also supported by a weaker yen, which is favorable for exporters.