New York: Wall Street stocks bounced early Monday ahead of key US inflation data and the kickoff of major quarterly corporate earnings later in the week.
The gains were a reversal after US stocks on Friday lost more than two percent on trade war fears.
About 15 minutes into trading, the Dow Jones Industrial Average was at 24,078.05, up 0.6 percent.
The broad-based S&P 500 advanced 0.5 percent to 2,617.11, while the tech-rich Nasdaq Composite Index jumped 0.8 percent to 6,967.49.
US stocks have been on a rollercoaster since late January, pressured by worries over higher interest rates and worsening trade conflict between the US and its major trading partners.
Briefing.com analyst Patrick O’Hare attributed the early rise on Monday to a “technical bounce” after US stocks held above a key level shortly before Friday’s close.
Key releases this week include the consumer price index for March, as well as minutes from the Federal Reserve’s March meeting. JPMorgan Chase, among other large banks, will report first-quarter results on Friday.
Among individual stocks, General Motors jumped 1.6 percent after Morgan Stanley upgraded the automaker on a bullish forecast for US pickup truck sales.
Merck surged 3.2 percent after reporting successful results of a clinical trial for its Keytruda treatment for lung cancer.
US shares of Deutsche Bank gained 1.7 percent on the announcement that it had replaced chief executive John Cryan with Christian Sewing.
Source: Brecorder
