US stocks bounce back as North Korea fears ease

0
481
views

Wall Street stocks rose decisively early Monday, following most global equity markets higher on diminishing anxiety about the US-North Korea diplomatic standoff.
“North Korean war fears subsided over the weekend as US military leaders said they are preparing a response to an attack, but prefer diplomacy,” said Chris Low, chief economist at FTN Financial. “Kim and Trump were silent and China urged calm.”
About 15 minutes into trading, the Dow Jones Industrial Average stood at 21,986.89, up 0.6 percent. The broad-based S&P 500 rose 0.8 percent to 2,461.33, while the tech-rich Nasdaq Composite Index climbed 1.0 percent to 6,316.71.
Equity markets in Paris, London, Frankfurt and Hang Seng were all up about one percent or more.
US stocks fell three days in a row last week amid hot rhetoric from the leaders of the United States and North Korea on North Korea’s nuclear program.
Key economic news this week includes the July retail sales report, the release of the Federal Reserve’s meeting minutes from July and earnings from several leading retailers, including Wal-Mart Stores.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.