Investing.com – Stocks went up on Monday, a relief for traders and investors around the world.
It is not clear if Monday's rally was simply a rebound from Friday's savage decline or something more meaningful.
This will take time to decide. 1.1% appreciation thanks to late purchase. The increase of 1% on the day, or 271 points, was above 312 points, or 1.2% immediately after the opening.
with many technology companies directly affected by the ongoing commercial struggle in the US, increased by 1
Interest rates increased modestly.
The catalyst for the rally was President Donald Trump. First, he said China was ready to strike a trade deal and said he would be ready to meet with the Iranian president if the conditions are right.
This was good news for marketers and algorithms that run many markets. All 30 stocks were higher, along with 94 Nasdaq-100 stocks. Dow leaders include Nike (NYSE :), Walt Disney (NYSE 🙂 and Apple (NASDAQ :). All three have huge stakes in China and Disney has been boosted since it launches its video steam service in November.
Hasbro (NASDAQ 🙂 jumped by about 3%, fourth among stocks, as many of the toys it sells are made in China.
Amgen (NASDAQ 🙂 and Celgene (NASDAQ 🙂 were higher by more than 3%. Amgen will buy Celgene Otezla's psoriasis drug for $ 13.5 billion in cash. And Selgian is a step closer to merging with Bristol-Myers Scooby (NYSE 🙂 in a $ 74 billion deal.
After closing, Johnson and Johnson (NYSE 🙂 rose by more than 5.2% after a federal judge in Oklahoma found the company responsible for fueling the opioid crisis in that state. He ordered the company to pay $ 572 million in damages when the state asked drug companies to pay up to $ 17 billion in damages. Two other companies settled out of court. Around 2000 cases are awaiting trial against drug companies.
Johnson & Johnson grew 0.8% in regular trading but slightly decreased in the year before the announcement of the decision.
Yields rose to 1.537% from 1.527% on Friday, but this year it is still up 42%.
Oil prices have fallen because of the unfreezing potential of US-Iran relations. Gold was flat.
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