Major indexes in the US stock market opened strong on Monday, as the Dow Jones and the SandP 500 were trying to recover from their five days of losing streak.
The blue-chip Dow soared 204 points, or 0.6%, to 34,812 at 9.37 a.m. EDT with IBM and Intel adding 1.2% and 2.5%, respectively.
The SandP 500 increased 26 points, or 0.58%, to 4,484 despite Tesla shedding 0.6%.
The tech-heavy Nasdaq added 21 points, or 0.14%, to 15,136 as AMC Entertainment and GameStop rose around 2.4% apiece.
While the Dow and the SandP fell 2.2% and 1.7%, respectively, last week, the Nasdaq shed 1.6% amid worries over US economic growth.
Shares of oil major also rose with ExxonMobil adding 2.7%, while Chevron and ConocoPhillips gained 1.9% and 3.4%, respectively, with a rise in crude oil prices.
Brent crude added 1.1% to $73.74 per barrel and West Texas Intermediate rose 1.4% to $70.70.
After a steep decline below $43,000 range last Tuesday and hovering above that level for day, the world’s largest cryptocurrency Bitcoin quickly climbed above $46,500 shortly after US market opening.
The VIX volatility index, also known as the fear index, plummeted 4.8% to 19.94.
The yield on 10-year US Treasury notes was down 1% to 1.327%, while the dollar index was rose 0.13% to 92.70.
Precious metals were mixed with gold adding 0.15% to $1,790 per ounce, but silver falling 0.9% to $23.53.
Source: Anadolu Agency