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


Following the sell-off seen last Friday, stocks have higher lower during trading on Monday. The rebound on Wall Street Comes as traders are picking up stocks at reduced levels despite lingering concerns about a potential trade war between the U.S. and China.

The Dow is up 263.72 or 1.1 percent at 24,196.48, the Nasdaq is up 104.14 points or 1.5 percent to 7,019.25, the S&P 500 is up 29.41 points or 1.1 percent at 2,633.88.

Biotechnology stocks have shown a strong move back to the upside, driving the NYSE Arca Biotechnology Index up by 5.3 percent.

Semiconductor, computer hardware and banking stocks have also moved notably higher, while gold stocks are among the few groups bucking the downtrend.

In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Monday. Japan's Nikkei 225 Index rose by 0.5 percent and Hong Kong's Hang Seng Index tumbled by 1.3 percent.

Meanwhile, the major European markets have turned mixed on the day. While the French CAC 40 Index is up by 0.1 percent and the German DAX Index is just above the unchanged line, but the U.K.'s FTSE 100 Index is down by 0.1 percent.

In the bond market, treasuries have pulled back following the strong upward move seen in the previous session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down 3.1 basis points at 2.806 percent.

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