US Stocks Open Higher as Tech Sector Leads

US stocks opened higher on Monday, bolstered by solid gains in big tech names.

Shortly after the opening bell, the Dow Jones Industrial Average increased 133.37 points, or 0.50 per cent, to 26,561.69. The S&P 500 was up 19.41 points, or 0.59 per cent, to 3,290.53, Xinhua reported.

The Nasdaq Composite Index climbed 98.54 points, or 0.92 per cent, to 10,843.82.

Apple shares rose more than 4 per cent in morning trading, after soaring over 10 per cent on Friday.

The company reported earnings results late on Thursday that easily topped forecasts.

NEW YORK, Feb. 5, 2018 — A trader works at the New York Stock Exchange in New York, the United States, on Feb. 5, 2018. U.S. stocks closed sharply lower on Monday, with the Dow plummeting 4.60 percent, as the market took a heavy hit from panic sales.

Shares in Microsoft and Netflix, another two tech giants, also rallied.

Of the 11 primary S&P 500 sectors, technology advanced about 2 per cent, outpacing the rest.

Real estate, however, slipped 1.7 per cent, the worst-performing group.

The Wall Street’s major averages posted mixed results in the past week as investors continued to weigh the impact from a resurgence in US coronavirus infections.

For the week ending Friday, the Dow lost 0.2 per cent, while the S&P 500 and the Nasdaq gained 1.7 per cent and 3.7 per cent, respectively.

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