Markets Right Now: Tech, banks lead early gains

US stock indexes follow global markets higher, led by tech

United States markets opened modestly higher on Monday, as technology stocks rebounded after sell-offs last week.

Biogen shares were one of the top three S&P percentage gainers with a 3.96 per cent rise to $261.71, after it was upgraded to "neutral" from "sell" at UBS, which raise its price target to $270 from $262. Biogen climbed 3.5 percent and Morgan Stanley rose 2.8 percent.

United States stocks ended in the black on Monday, with the Dow and S&P 500 at record highs thanks to gains in the technology sector.

The company also recently announced a monthly dividend, which will be paid on Monday, July 17th.

At 12:47 p.m. ET (1647 GMT), the Dow was up 115.2 points, or 0.54 percent, at 21,499.48, the S&P 500 was up 17.37 points, or 0.71 percent, at 2,450.52.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.19 percent. Overall, the tech sector enjoyed its best daily advance in months, with the S&P 500's tech sector booking its best daily climb since Dec. 7, 2016, while a popular way to trade the sector, the Technology Select Sector SPDR ETF, jumped 1.5% for its best daily gain since December, led by shares of Micron Technology Inc., Advanced Micro Devices Inc., and NVIDIA Corp.

The Dow and S&P 500 were on track to secure all-new highs by market close.

The gains Monday put major USA indexes further into record territory.


Amazon led technology stocks higher with its shares increasing 1.33% to US$1,000.96 following last week's announcement that it had agreed to buy Whole Foods.

Airline stocks also showed a notable move to the upside, driving the NYSE Arca Airline Index up by 1.8 percent.

On the downside, energy (-0.7%) settled solidly lower as US crude oil shed another 1.1% to $44.46/bbl, marking its worst level since November.

Nasdaq 100 e-minis were up 38 points, or 0.67 percent, on volume of 25,178 contracts.

Apple rose 1.7 percent in the first few minutes of trading Monday, while Google's parent company, Alphabet, gained 1.6 percent.

The S&P 500 is up 214.63 points, or 9.6 percent.

The Dow Jones industrial average increased 72 points, or 0.3 percent, to 21,457.

Related:

  • Cristiano Ronaldo won't 'sound the alarm' after Portugal draw with Mexico

    Cristiano Ronaldo won't 'sound the alarm' after Portugal draw with Mexico

    After finishing with an assist in the Confederations Cup Group A game, he was expected to give an interview after the match. He attracted headlines last week after being accused by a Spanish prosecutor of defrauding the country's tax authorities.

    'Anxiety and fear' over Tory-DUP deal: Sinn Fein

    With their support, May can make up for her own party's shortfall by striking a so-called " confidence and supply " deal. A poll released last summer has shown 70% of people in Northern Ireland support same-sex marriage.
    Best Tweets: Fans in shock as Jackie Chan leads Le Mans

    Best Tweets: Fans in shock as Jackie Chan leads Le Mans

    There was no stopping Porsche as Bernhard clocked up a third win, while Bamber secured his second and it was a first for Hartley . There had been four other high-profile failures going back to 1994 at that point but this year's was particularly harsh.
  • Four reasons for team India's biggest win against Pakistan

    Four reasons for team India's biggest win against Pakistan

    India defeated Pakistan by 7-1 in an all-round show in the World Hockey League semi-final played in London on Sunday. In the 49th minute of the game, Pradeep Mor scored his first goal of the match to stretch the lead by 6-0.

    10 still in critical condition after London fire

    As she left St Clement's Church following a visit lasting less than an hour, the PM faced cries of "coward" and "shame on you" . Angry protesters chanting "We want justice" stormed their way into the Kensington and Chelsea town hall on Friday.

    Democrats and Republicans unite in a touching dedication to Steve Scalise

    Daily Caller's Kaitlan Collins reported that "Scalise has received multiple units of blood transfusion". Trump only alluded to the shooting indirectly while voicing support for the victims.
  • Doctors: Scalise remains critical, but 'excellent recovery' possible

    Doctors: Scalise remains critical, but 'excellent recovery' possible

    Doctors "fully expect him to walk", Sava said, "and hopefully run". "So we all owe Steve a big, big thank you, " Trump added. Griner remained hospitalized at MedStar Hospital after getting shot in the ankle, and Sava described her in good condition.
    DA suspends ex-leader Zille after colonialism tweet

    DA suspends ex-leader Zille after colonialism tweet

    He added that Zille had referred to the wrong chapter of the party constitution, which dealt with suspension of membership. Reasons stated by Maimane for the party's federal executive to suspend Zille was not the full story, she said.
    Taliban infiltrate Afghan army to target foreign troops

    Taliban infiltrate Afghan army to target foreign troops

    Nevertheless, these attacks fueled a strong sense of mistrust between the coalition soldiers and the Afghan military. Green-on-blue attacks have been a major problem during NATO's long years fighting alongside Afghan forces.
  • Reports swirl about Beyonce's twins, but no confirmation yet

    Reports swirl about Beyonce's twins, but no confirmation yet

    Share with Us - We'd love to hear eyewitness accounts, the history behind an article, and smart, constructive criticism. This is one of those times when we wish stars weren't just like us.
    Trump Allies Try to Discredit Special Counsel Mueller After Initial Praise

    Trump Allies Try to Discredit Special Counsel Mueller After Initial Praise

    Ruddy never spoke to the President regarding this issue. "If there were not good cause, it would not matter to me what anybody said", he said.

    Taylor Swift's music is returning to Spotify, Pandora, more

    In a pop star gut punch heard 'round the world, Taylor Swift did her best to overshadow Katy Perry's release of Witness tonight. Only Apple Music was allowed to stream the music when it chose to pay royalties to artists during a free three-month trial.

Comments

Latest news

Secondary E-Ink Display Retains Presence on YotaPhone 2 Successor
The then-Russian company's device was available for some regions including Russia and Europe, but sadly not in the United States. However, it has been confirmed that there will be an e-ink at the rear face, probably with a better resolution this time around.

Man United bid €35m for another Benfica defender
The FC panel debate the rumours of Cristiano Ronaldo requesting a move out of Spain, possibly back to Manchester United . Semedo, a right back, played more than 60 games for Benfica and is now being heavily linked with a move to Old Trafford.

Cuba rejects new US policy, saying pressure will not work
However, they have rejected reason and good judgment in exchange for Trump's signature on legislation that furthers their agenda. Marco Rubio, who helped craft the new policy , continues to sell it, with an op/ed in the Miami Herald , co-authored by Sen.

Deal with Sinn Fein 'very much doable', says DUP's Arlene Foster
The subsequent election in March saw the DUP take the most seats in the assembly, but their 28 was just one more than Sinn Féin. As it's been all over the news most people will know a lot more than they used to about the DUP .

Portugal and Mexico draw 2-2 in Confederations Cup
The team said that he couldn't go because he was receiving post-game treatment, although it said it wasn't anything serious. El Tri would find their last-gasp equalizer from the head of Hector Moreno to force Portugal to split points on the day.

Ariana Grande and others spread the love during One Love Manchester concert
Throughout the night Grande performed her hits Be Alright and Break Free, as well as her duet Better Days with Victoria Monet. Even then his apology was hampered by more of that pesky language.

Wife of Nik Wallenda hangs by teeth over Niagara Falls
Thursday morning's performance comes on the fifth anniversary of Nik Wallenda's televised high-wire walk over Niagara Falls . The helicopter took off at 8:30 a.m. from the roof of the Seneca Niagara Casino parking garage and returned by 8:50 a.m.

Protest against Sharia Law held in Richardson
Around 100 people got together inside the Capitol rotunda to hear to speeches about how Islamic law is a threat to democracy. The rally began around 10 am and saw heated moments between Anti-Sharia law proponents and Anti-Trump counter protesters.

LA to honour Adam West by lighting bat-signal
Be proactive - Use the "Flag as Inappropriate" link at the upper right corner of each comment to let us know of abusive posts. Note for non-comic book nerds: the Bat-signal is used by police forces in the fictitious Gotham City to summon Batman .

Portuguese radio says 25 people killed in forest fires
Death toll expected to rise, with firefighters battling at least 60 forest fires that started in Pedrogao Grande area. A local resident Isabel Brandao told The Associated Press: "Yesterday we saw the fire but thought it was very far.

Russia probe causes tension among top officials at Justice Department
The Twitter attacks came as Vice-President Mike Pence hired a personal lawyer to represent him in the intensifying investigation. Right-wing media backers of Trump have been preparing the ground for Trump to fire Rosenstein, Mueller or both.

Ovation for Jeremy Corbyn as he returns to House of Commons
Now that the election is over, however, her rating is down in the dumps at -34. Corbyn, while the loser on paper, proved May wrong.

Hot and humid in Houston thru at least Tuesday
That front will stall to our east and start to wash out along the coast by Tuesday , so a shower or storm will still be possible. The big weather story is the major cool down for today after a week straight of highs in the 90s, today we'll be in the low 80s.

Reckitt Benckiser Group Plc's (RB) Buy Rating Reiterated at Citigroup Inc
The Company's producing royalties include Kestrel, Narrabri, Maracas Menchen, El Valle- Boinas/Carles (EVBC) and Four Mile. The stock of Anglo Pacific Group plc (LON:APF) has "Hold" rating given on Wednesday, September 16 by FinnCap.

Trump lashes out at 'bad,' 'conflicted' Russian Federation investigators
But, after the news came out, there was speculation that Trump could be planning to fire Mueller from his post as special counsel. The Trump administration has been embroiled in an investigation into alleged Russian interference into the 2016 USA election.

Other news