Investing.com – U.S. stocks eased up after the open on Monday, as markets were boosted by the prospect of further monetary easing by the Federal Reserve.
During early U.S. trade, the Dow Jones Industrial Average was up 0.03%; the S&P 500 index gained 0.05%, while the Nasdaq Composite index rose 0.14%.
Trading volume on Wall Street was expected to be thin on Monday, as bond markets and federal offices were closed for the Columbus Day holiday.
In the financial sector, banks were mixed, as JP Morgan Chase surged 1.27%, Bank of America saw its shares gain 0.23%, while investment bank Goldman Sachs Group fell 0.29% and Citigroup stocks declined 0.72%.
In the technology sector, Broadcom Corp. saw its shares climb 3.39% after its stocks were upgraded by Goldman Sachs and added to their ‘conviction buy list’.
Within the sector, chip-maker Intel rose 1.08%, Cisco Systems gained 0.62% while Google saw its shares increase 1.05%. The search-engine giant is expected to release its third-quarter earnings report on Thursday.
In deal news, Texas-based Chesapeake Energy Corp. saw its shares soar 3.86%, after the natural gas producer agreed to sell a one-third stake in the company to Cnooc Limited, China’s largest offshore oil producer, for approximately USD 1.08 billion. U.S. listed shares of Cnooc jumped 2.90% following the news.
Elsewhere, children clothing retailer The Gymboree Corporation surged 22.74%, after it agreed to be bought by private-equity firm Bain Capital LLC for approximately USD 1.8 billion.
Across the Atlantic, European stock markets were up: France’s CAC 40 gained 0.09%; Germany's DAX rose 0.28%; Britain's FTSE 100 increased 0.22%; and the EURO STOXX 50 added 0.15%.
Later in the day, Federal Reserve Open Market Committee member Janet Yellen was to speak at a public engagement in Denver.
During early U.S. trade, the Dow Jones Industrial Average was up 0.03%; the S&P 500 index gained 0.05%, while the Nasdaq Composite index rose 0.14%.
Trading volume on Wall Street was expected to be thin on Monday, as bond markets and federal offices were closed for the Columbus Day holiday.
In the financial sector, banks were mixed, as JP Morgan Chase surged 1.27%, Bank of America saw its shares gain 0.23%, while investment bank Goldman Sachs Group fell 0.29% and Citigroup stocks declined 0.72%.
In the technology sector, Broadcom Corp. saw its shares climb 3.39% after its stocks were upgraded by Goldman Sachs and added to their ‘conviction buy list’.
Within the sector, chip-maker Intel rose 1.08%, Cisco Systems gained 0.62% while Google saw its shares increase 1.05%. The search-engine giant is expected to release its third-quarter earnings report on Thursday.
In deal news, Texas-based Chesapeake Energy Corp. saw its shares soar 3.86%, after the natural gas producer agreed to sell a one-third stake in the company to Cnooc Limited, China’s largest offshore oil producer, for approximately USD 1.08 billion. U.S. listed shares of Cnooc jumped 2.90% following the news.
Elsewhere, children clothing retailer The Gymboree Corporation surged 22.74%, after it agreed to be bought by private-equity firm Bain Capital LLC for approximately USD 1.8 billion.
Across the Atlantic, European stock markets were up: France’s CAC 40 gained 0.09%; Germany's DAX rose 0.28%; Britain's FTSE 100 increased 0.22%; and the EURO STOXX 50 added 0.15%.
Later in the day, Federal Reserve Open Market Committee member Janet Yellen was to speak at a public engagement in Denver.