BUSINESS US stocks open higher as tech shares rally


US stocks open higher as tech shares rally


22:19, July 01, 2019

NEW YORK, July 1 (Xinhua) -- US stocks opened higher on Monday, bolstered by rallying tech shares.


(File photo: VCG)

Shortly after the opening bell, the Dow Jones Industrial Average jumped 257.68 points, or 0.97 percent, to 26,857.64. The S&P 500 was up 34.44 points, or 1.17 percent, to 2,976.20. The Nasdaq Composite Index advanced 143.48 points, or 1.79 percent, to 8,149.72.   

Shares of major US tech giants, the FAANG group of Facebook, Apple, Amazon, Netflix and Google-parent Alphabet, all traded on an upbeat note.

Of the 11 primary S&P 500 sectors, technology was up more than 2 percent shortly after the opening, the best-performing group.

US equities rallied in June, reversing May's loss as market sentiment was lifted by the central bank's hint on more accommodative monetary policy in the near future.

For the past month, the Dow notched 7.2 percent gain, the S&P 500 rose 6.9 percent, and the Nasdaq added 7.4 percent. 

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