Fri, 17 Jul 2020

Tech shares lead U.S. market higher

By Jay Jackson, Arkansas State News.Net
12 Mar 2019, 07:11 GMT+10

NEW YORK, New York - U.S. stocks were in demand on Monday, ending a dismal week last week where stocks fell every day.

The five day losing streak ended with all indices making solid ground on Monday.

The biggest gainer was the Nasdaq Composite which rose 149.92 points or 2.02% to 7,558.06.

The Standard and Poor's 500 gained 40.23 points or 1.47% to 2,783.30.

The Dow Jones industrials added 200.64 points or 0.79% to 25,650.88.

The U.S. dollar was mixed. The biggest mover was the British pound which reversed course during the day. In Asia the pound tumbled well below the 1.3000 mantle. However in  Europe, and particularly during the U.S. session, sterling recovered to finish the day in New York Monday around 1.3146.

The euro rose a few points from its Asian close to end the day around 1.1244.

The Japanese yen eased a few basis points to trade at 111.22.

The Swiss franc was sharply weaker at 1.0107.

The Canadian dollar rose half-a-cent to 1.3395.

The Australian and New Zealand dollars were marginally stronger at 0.7069 and 0.6831 respectively.

Overseas, in London the FTSE 100 gained 0.37%. The German Dax was up 0.75% and the Paris-based CAC 40 gained 0.66%.

In Asian markets stocks were mostly stronger although the ASX retreated. At the close of trading Monday the Australian All Ordinaries was down 23.80 points or 0.38% at 6,263.30.

The Nikkei 225 finished 99.53 points or 0.47% ahead, at 21,125.09.

In China, the Shanghai Composite was up 57.13 points or 1.92% at 3,026.99.

In Hong Kong, the Hang Seng finished ahead 274.88 points or 0.97% at 28,503.30.

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