Wall St. Rises Ahead Of Big Week For Big Tech

U.S. stocks approached record levels Monday ahead of a significant week for profit reports from Big Tech stocks.

The Dow Jones Industrial Average was up 280 points, or 0.7%, the Nasdaq Composite was 0.5% higher, while the S&P 500 was 0.4% higher. I Photo: New York Stock Exchange Facebook

Meanwhile, oil prices were tumbling toward their worst loss in more than a year, Stan Choe reported for the Associated Press (AP). The S&P 500 was 0.4% higher in afternoon trading.

The main measure of the U.S. stock market is coming off its first losing week in the last seven, but it’s still near its all-time high set earlier this month.

The Dow Jones Industrial Average was up 280 points, or 0.7%, as of 1:10 p.m. Eastern time, while the Nasdaq Composite was 0.5% higher, flirting with its own record set in July.

In stock markets abroad, Japan’s Nikkei 225 rose 1.8% as the value of the Japanese yen sank after Japanese Prime Minister Shigeru Ishiba’s ruling coalition lost a majority in the 465-seat lower house in a key parliamentary election Sunday.

Stock indexes were mostly higher across much of the rest of Asia and in Europe, Yuri Kageyama and Matt Ott also reported for AP.