Published: Mon, July 09, 2018
Economy | By

U.S. stocks gain with tech shares leading

U.S. stocks gain with tech shares leading

Stocks are opening higher on Wall Street following a solid jobs report, keeping the market on track for a weekly gain after two weeks of losses.

Stocks rose on Friday on the back of stronger-than-expected employment data.

The United States and China slapped tit-for-tat duties on $34 billion worth of each other's imports on Friday, with Beijing accusing Washington of triggering the "largest-scale trade war" as the world's two biggest economies sharply escalated their conflict.

A solid pickup in hiring by US employers last month helped keep investors in a buying mood.

USA stocks closed broadly higher Thursday as solid gains in technology and health care companies set the market on course to snap a two-week losing streak. The S&P 500 closed 0.8 percent higher at 2,759.82, with health care rising 1.5 percent.

The Russell 2000 index of smaller-company stocks picked up 19.06 points, or 1.1 percent, to 1,679.48.

The Dow added 185.07 points, or 0.8 percent. U.S. President Donald Trump upped the ante on Thursday night, warning that the United States may ultimately target over $500 billion worth of Chinese goods.

USA crude rose 1.22 percent to $73.83 per barrel and Brent was last at $77.07, down 0.41 percent on the day.

Consumer staples also advanced, such as Procter & Gamble, which gained 1.6 per cent and Mondelez International, which climbed 2.5 per cent.

The Dow Jones Industrial Average was little changed at 24,353. The Nasdaq composite climbed 33 points, or 0.5 percent, to 7,620.

The Russell 2000 is up 158.54 points, or 10.3 percent.

Like this: