Dow jumps over 300 points shortly after opening

Xinhua
03 May 2021, 21:35 GMT+10

NEW YORK, May 3 (Xinhua) -- U.S. stocks kicked off the first trading session of May on a strong note, with the Dow up more than 300 points on Monday morning.

Shortly after the opening bell, the Dow Jones Industrial Average jumped 336.70 points, or 0.99 percent, to 34,211.55. The S&P 500 added 27.25 points, or 0.65 percent, to 4,208.42. The Nasdaq Composite Index rose 30.96 points, or 0.22 percent, to 13,993.64.

Ten of the 11 primary S&P 500 sectors advanced in morning trading, with energy up 1.9 percent, leading the gainers. Real estate slipped 0.4 percent, the lone declining group.

Stocks tied to economic reopening such as cruise lines and retailers traded on an upbeat note.

For the week ending Friday, the Dow fell 0.5 percent, the S&P 500 eked out a gain of 0.2 percent, and the Nasdaq Composite declined 0.4 percent, as Wall Street digested a big wave of earnings reports from tech giants and a key statement from the Federal Reserve.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Broadcast Communications.

More Information

null in null

Business

Section

AI saves $500 million for Microsoft as layoffs reshape strategy

REDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...

FTC’s rule to ease subscription cancellations struck down by court

WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...

Musk’s X loses CEO Linda Yaccarino amid AI backlash, ad woes

BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...

Ex-UK PM Sunak takes advisory role at Goldman Sachs

NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...

Gold ETF inflows hit 5-year high as tariffs drive safe-haven bets

LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...

PwC: Copper shortages may disrupt 32 percent of chip output by 2035

AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...

Sectors - Broadcasting

Section