U.S. Stocks Open Higher, Pushing Indices To Break Records
Stocks have opened modestly higher on Wall Street Monday, Nov. 1, 2021, bringing major indices a bit further past the record highs they set last week, the Associated Press (AP) reported.
Photo Insert: The trading floor of the New York Stock Exchange
The S&P 500 was up 0.1% in the early going and the Dow Jones Industrial Average was up 0.4%. The Nasdaq was barely higher as technology stocks lagged the rest of the market.
This week traders will be watching another policy meeting by the Federal Reserve, which is in the process of considering how to wind down its extraordinary support measures for the economy. More companies are reporting their latest quarterly earnings and the government releases its monthly jobs report Friday.
Stocks advanced in Europe and most of Asia on Monday, with Tokyo’s benchmark up 2.6% after the ruling Liberal Democrats won a stronger than expected majority in an election Sunday.
The gains followed further milestones on Wall Street, where the three major indexes set records.
Germany’s DAX rose 0.6% to 15,774.76 and in Paris, the CAC 40 added 0.5% to 6,863.04. Britain’s FTSE 100 gained 0.4% to 7,268.63. The futures for the Dow industrials and the S&P 500 were 0.2% higher. On Friday, the S&P 500 rose 0.2%; the Dow Jones Industrial Average gained 0.3% and the Nasdaq closed 0.3% higher.
Tokyo’s Nikkei 225 index surged 754 points to 29,647.08, while the Kospi in Seoul gained 0.3% to 2,978.94.
In Sydney, the S&P/ASX 200 picked up 0.6% to 7,370.80. The Shanghai Composite index edged 0.1% lower, to 3,544,48.
Hong Kong’s Hang Seng dropped 0.9% to 25,154.32 as investor concerns over financial risks for property developers added to worries over the economic outlook.