Wall Street stocks ended a two-day losing streak on Monday, rising as a heavy week of economic data and earnings releases got underway.
Traders work on the floor of the New York Stock Exchange. (Andrew Burton/Getty Images/AFP)
NEW YORK: Wall Street stocks ended a two-day losing streak
on Monday (May 2), rising as a heavy week of economic data and earnings
releases got underway.
Analysts said sentiment remains strong even after
disappointing earnings from Apple and some other technology companies
weighed on shares last week.
"The market is still in a pretty decent uptrend," said
Michael James, managing director of equity trading at Wedbush
Securities. He attributed some of the US market's strength to the
pullback in the dollar.
Key economic reports due later in the week include the US jobs report
for April, which is expected to show the United States added 207,000
jobs during the month.
The Dow Jones Industrial Average gained 117.52 points (0.66 per cent) to 17,891.16.
The broad-based S&P 500 climbed 16.13 points (0.78 per
cent) to 2,081.43, while the tech-rich Nasdaq Composite Index rose 42.24
points (0.88 per cent) to 4,817.59.
- AFP/de
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