Traders work after the opening bell at the New York Stock Exchange (NYSE) on August 1, 2019, in New York City. (Photo: VCG)
NEW YORK, Aug. 19 (Xinhua) -- U.S. stocks opened higher on Monday as Treasury yields stabilized.
Shortly after the opening bell, the Dow Jones Industrial Average was up 320.40 points, or 1.24 percent, to 26,206.41. The S&P 500 rose 34.79 points, or 1.20 percent, to 2,923.47. The Nasdaq Composite Index rose 114.24 points, or 1.45 percent, to 8,010.24.
The benchmark 10-year Treasury yields rose to about 1.61 percent from around 1.54 percent. Bank shares rose along with yields. Goldman Sachs and J.P. Morgan Chase rose 2.17 percent and 1.22 percent respectively.
Last week, the 10-year Treasury yields briefly fell below two-year Treasury yields. The yield-curve inversion was seen as a signal that a recession might be on the horizon.
All of the 11 primary S&P 500 sectors rose. Energy, communication services and technology sectors rose 1.39 percent, 1.28 percent and 1.11 percent, respectively, the top three gainers.
Twenty-nine of the 30 Dow component companies traded in green territory in the morning session on Monday, with Apple and Walgreens Boots Alliance leading the gains. American Express lost 0.04 percent, the only exception.