U.S. Stocks rose by closing Monday’s trading session, after swinging between gains and losses throughout the day, as optimism that European leaders may pave the way for a vaccine to tackle the ailing debt crisis of the 17-nation Euro Area overshadowed a report that showed purchases of U.S new homes declined to a six-month low in August.
The Dow Jones Industrial Average index added 272.38 points or 2.53% to close at 11043.86 levels, the index reached the highest point at 11057.49 and the lowest point at 10771.78, By closing all 30 shares inclined.
The Standard & Poor’s 500 Index rose 26.52 points or 2.33% to close at 1162.95 levels, the index reached the highest point at 1164.19 and the lowest point at 1131.07, By closing 466 shares inclined while 32 shares declined and 2 shares remained unchanged.
The NASDAQ Composite Index inclined 33.46 points or 1.35% to close at 2516.69 levels, the index reached the highest point at 2518.91 and the lowest point at 2446.12, By closing 1562 shares inclined while 857 shares declined and 188 shares remained unchanged.
Meanwhile, Caterpillar Inc and FedEx Corp climbed 4.05 percent and 3.64 percent respectively, pacing gains among shares most-sensitive to the economic growth.
Citigroup Inc, Bank of America Corp and JP Morgan Chase & Co advanced 6.29 percent, 4.60 percnet and 6.96 percnet respectively, following gains among European lenders as ECB policy makers intends to consider more measures to ease monetary standards and bolster the economy.
Shares that kept on pacing gain since the opening bill were the Boeing Co and Hewlett-Packard Co that gained nearly 4.20 percent and 1.75 percnet respectively. Moreover, billionaire investor Warren Buffet’s Berkshire Hathaway Inc, Class B jumped 8.62 percnet amid plans of stock repurchase.
Safeway Inc added 5.22 percent, after being raised to “neutral” from “sell” at longbow research. On the other hand, Apple Inc, the maker of the iPhone and iPad, dropped 0.28 percent after a plan to cut orders to vendors in the supply chain for its iPad tablet computer.
The Dollar index which measures the performance of the U.S. dollar against a basket of currencies including the Euro, the Pound, and the Yen, fell from today's opening level of 78.70 to currently trade at 78.15 recording its highest level at 78.86 and its lowest at 77.99.
Gold prices dropped to reach $1649.73 an ounce since the opening price of $1649.73 an ounce. Oil surged to reach $81.29 after opening at $79.93 per barrel.