NEW YORK (CNNMoney)
U.S. stocks opened higher Monday, taking a cue from Europe, where investors cheered the formation of a new Italian government. Enrico Letta was sworn in as Italy's prime minister, ending weeks of political deadlock and uncertainty in a country mired by recession.
The news pushed Italian stocks up more than 1%, while Italian bond yields dropped to their lowest levels in more than two years.
The Dow Jones industrial average edged up 0.1%, the S&P 500 added 0.2%, and the Nasdaq gained 0.3%.
U.S. stocks are on track to end April with gains this week, which would mark the fourth straight positive month this year.
Click here for more on stocks, oil, gold, and bonds
Expectations of a further rate cut from the European Central Bank and continued monetary support from the Federal Reserve later this week were also lending support.
"The ECB meeting may be the most interesting event this week," wrote Marc Chandler, strategist for Brown Brothers Harriman, adding that the ECB indicated earlier this month that if economic data worsened, it was prepared to cut interest rates.
Related: World's five hottest stock markets
Investors also mulled a report on U.S. personal income and spending. At 10 a.m. ET, the National Association of Realtors will release data on pending home sales.
What's moving: J.C. Penney (JCP, Fortune 500) shares rose sharply after the struggling retailer officially said it had secured a $1.75 billion loan from Goldman Sachs. Shares were also boosted by a New York Post report that claimed "at least" two major hedge funds have taken significant stakes in Penney, with one's investment worth over $10 billion.
In other corporate news, JPMorgan Chase (JPM, Fortune 500) announced Sunday that another of CEO Jamie Dimon's key executives, co-chief operating officer Frank Bisignano, is leaving the firm.
Earnings continue to roll in, with controversial supplements company Herbalife (HLF) and gun maker Sturm Ruger (RGR) set to release their quarterly results after the close.
First Published: April 29, 2013: 9:45 AM ET
Anda sedang membaca artikel tentang
Wall Street lifted by Italy
Dengan url
https://sepakgajah.blogspot.com/2013/04/wall-street-lifted-by-italy.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Wall Street lifted by Italy
namun jangan lupa untuk meletakkan link
sebagai sumbernya
0 komentar:
Posting Komentar