U.S. Stocks Gain to Start Week

Stocks opened higher on Monday, resuming the rally that started last week as geopolitical tensions dissipated while investors felt optimistic about U.S.-China trade relations.

The Dow Jones Industrials picked up 41.38 points to 28,865.15. The S&P 500 increased 7.28 points to 3,272.63. The NASDAQ recovered 34.19 points to 9,213.05

Goldman Sachs gained 1.2%, and Cisco Systems rose 0.7%, , to lead the Dow higher. The S&P 500 was lifted by the tech and communication services sectors, which advanced at least 0.4% each.

Tesla shares rose 4.7% after an analyst at Oppenheimer hiked his price target on the stock to $612 per share from $385 per share.

The analyst said Tesla’s “risk tolerance … and larger ambition than peers are beginning to pose an existential threat to transportation companies that are unable or unwilling to innovate at a faster pace.” The stock broke above $500 for the first time ever in early trading.

Prices for the 10-Year U.S. Treasury slouched, raising yields to 1.86% from Friday’s 1.82%. Treasury prices and yields move in opposite directions.

Oil prices rocketed 73 cents to $58.31 U.S. a barrel. Gold prices fell off $9.80 to $1,550.30 U.S. an ounce.

Related posts

Carl Icahn Increases His Stake In Take-Two Interactive To 10.68%

ValueWalk

iPad Mini Display Outperformed By Kindle Fire HD & Nexus 7

ValueWalk

Foxconn Might Open Manufacturing Plants In The U.S. [REPORT]

ValueWalk

Peter Cundill Protégé Tim McElvaine on Investing in Japan [VIDEO]

ValueWalk

Set Bing Home Page Image As Lock Screen In Windows 8

ValueWalk

Morning Market News: JCP, APO, MCHP, ZIP, ENR, LGF, EA, ATVI, COV, LNT

ValueWalk