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Stocks Move Mostly Higher In Morning Trading - U.S. Commentary


Stocks have moved mostly higher in morning trading on Monday following the pullback seen in the previous session.

Currently, the Dow is up 209.21 points or 1 percent at 22,007.00, the Nasdaq Is up 65.64 points or 0.1 percent at 6,425.83 and the S&P is up 20.24 points or 0.8 percent at 2,481.67.

The strength on Wall Street comes as the impact of Hurricane Irma was not as severe as many had anticipated.

Trading activity has been somewhat subdued, however, with September 11th memorials attracting a lot of attention.

Financial stocks are showing a strong move to the upside on the day, with the Dow Jones Banks Index and the NYSE Arca Broker/Dealer Index both jumping by 1.7 percent.

Semiconductor, steel, and computer hardware stocks are also seeing considerable strength, while gold stocks are moving sharply lower.

In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Monday. Japan's Nikkei 225 Index jumped by 1.4 percent, while Hong Kong's Hang Seng Index surged up by 1 percent.

The major European markets have also moved to the upside on the day. While the U.K.'s FTSE 100 Index has advanced by 0.4 percent, the French CAC 40 Index and the German DAX Index are up by 1.3 percent and 1.4 percent, respectively.

In the bond market, treasuries are giving back ground following recent strength. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 5.2 basis points at 2.113 percent.

by RTTNews Staff Writer

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