US stocks jump during opening hour, supported by a minor recovery in oil prices
|The US stocks kicked off a new week on strong footing, with all the three major indices trading with strong gains during early hour of trading on Monday.
Equity markets had a muted reaction to weaker-than-expected durable goods orders data, while a modest rebound in oil prices was seen extending support to investors' appetite for riskier assets - like equities.
Durable-goods orders contracted 1.1% in May and disappointed market participants expecting a smaller decline. Meanwhile, recovery in oil prices lifted energy-related companies and collaborated to the Monday's up-move.
At the time of writing, the Dow Jones Industrial Average advanced around 90-points to 21,482, while the broader S&P 500 Index was up almost 11-points to 2,449. Meanwhile, tech-heavy Nasdaq Composite Index climbed 35-points to reclaim the 6,300 mark.
Investors now look forward to speeches from various FOMC members, including the Fed Chair Janet Yellen on Tuesday, for clues over the timing of central bank's next rate-hike move, which might eventually provide some fresh impetus.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.