All the S&P 500's major 11 sectors rose, though bond-proxy sectors real estate, utilities and telecommunications services underperformed as investors monitored rising interest rates after US 10-year Treasury yields hit a new four-year high of 2.902 earlier in the day. It's up 32 percent since the beginning of the year.
Stocks were helped a little by Trump's budget proposal for fiscal 2019, which includes $200 billion for infrastructure spending, more than $23 billion for border security and immigration enforcement, as well as $716 billion for military programs, including the US nuclear arsenal. Apple rose 3.3 percent, Boeing climbed 2.7 percent and Amazon also rose 2.7 percent. At the end the index closed with increase of or 1.70% to 24,601.27 points. It measures the daily stock price movements of 30 large, publicly-owned US companies.
Technology companies and banks, some of the biggest winners over the past year, rose up the most. Wall Street tumbled back into sell-off mode Thursday, with the Dow plunging more than 1,000 points as worries over interest rate hikes continued to drag the market down.
The Dow industrials were up 270 points, or 1.1 percent, to 24,461.
OIL: Benchmark U.S. crude fell 29 cents to $59.00 per barrel in electronic trading on the New York Mercantile Exchange.
Twenty-First Century Fox picked up 66 cents, or 1.9 percent, to $36.40 after The Wall Street Journal reported that cable and Internet provider Comcast is still interested in buying Fox's entertainment divisions and could make another offer. The S&P 500, meanwhile, posted moves greater than 1 percent in four-of-five trading days last week. Brent crude, used to price global oils, dropped 16 cents to $62.43 per barrel in London.
AmerisourceBergen Corp (NYSE:ABC) was a big gainer, up 9.30% at US$97.77, on a news report that Walgreens Boots Alliance Inc (NASDAQ:WBA) is in buyout talks with the drug distributor. The yield on the 10-year Treasury was 2.858 percent on Monday, compared with 2.829 on Friday. As a result, the investors have their eyes on the bond market regarding interest rates with the yields dipping during the morning trade, Tuesday. Real estate investment trusts declined and utilities didn't do as well as the rest of the market. Hospital property company HCP fell 86 cents, or 3.7 per cent, to $22.35 and Boston Properties shed $3.48, or 3 per cent, to $111.87.
Markets are expected to be closely focused on inflation figures out this week - in the United Kingdom on Tuesday and, particularly, in the USA the day after that.
If inflation accelerates, driven in part by higher wages, the Fed could raise interest rates more often and more steeply than previously anticipated.
The gold prices rose because of the depreciation of the dollar.
The massive sell off began February 2 when anxieties about the fed's impending interest rate hike led to a degree of market volatility unseen in years. The euro rose to $1.23 from $1.2231.
Cardi B Covers Midsection at NYFW Amid Pregnancy Rumors
Should Cardi B have a bun in the oven, though, that would help explain some of her more recent personal behavior. On Feb. 2, the 25-year-old posted a video of herself rapping along to the remix of her single, "Ahora Dice".