US stocks bounce after last week’s declines

NEW YORK: Wall Street stocks rose early Monday despite lingering trade tensions as investors went bargain hunting after last week’s losses.
About 15 minutes into trading, the Dow Jones Industrial Average had climbed 0.3 percent to 26,005.42. The broad-based S&P 500 had gained 0.4 percent to 2,882.96, while the tech-rich Nasdaq Composite Index edged up 0.1 percent to 7,907.06.
Major indices pulled back last week on worries about trade wars as officials from the US and Canada haggled over terms of trade and President Donald Trump threatened yet another massive round of tariffs on Chinese imports.
These uncertainties continued to loom Monday, yet “the broader market is driving itself on an assumption that last week’s losses will be last week’s losses and that this week is a new week with an opportunity to make up for the lost ground,” said Briefing.com analyst Patrick O’Hare.
Gainers in the Dow included American Express, Home Depot, 3M and Nike. All were up at least one percent.

 

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M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.