Wed, 04 Aug 2021

U.S. stocks open higher after downbeat week

Xinhua
22 Jun 2021, 02:18 GMT+10

NEW YORK, June 21 (Xinhua) -- U.S. stocks traded mostly higher on Monday morning, bolstered by solid gains in the materials and energy sectors.

The Dow Jones Industrial Average rose 199.09 points, or 0.60 percent, to 33,489.17. The S&P 500 increased 15.96 points, or 0.38 percent, to 4,182.41. The Nasdaq Composite Index climbed 29.62 points, or 0.21 percent, to 14,060.00. The tech-heavy Nasdaq turned in red territory shortly after the opening bell.

Eight of the 11 primary S&P 500 sectors advanced in morning trading, with energy and materials up 1.94 percent and 1.7 percent, respectively, leading the gainers. Technology slipped 0.37 percent, the worst-performing group.

The above market reactions followed a downbeat week on Wall Street as investors assessed the Federal Reserve's policy stance, while digesting the latest economic data.

For the week ending Friday, the Dow slid 3.5 percent, the S&P 500 decreased 1.9 percent and the Nasdaq lost 0.3 percent.

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