Dow Surges 200 Points As G-20 Promises To Keep The Pump Primed
Monday saw a rally for U.S. stocks after the G-20 pledged over the weekend to energize the global economy by keeping the stimulus efforts going. This allowed the Dow Jones Industrial Average to reach a 13-month high.
The stock market continues to trade in the opposite direction of the U.S. dollar, which traded at a 15-month low on Monday.
The weaker dollar has helped the stock market since it helps U.S. exporters by making the goods that they sell less costly to overseas buyers. For every one stock that fell on Monday, five more rose in the New York Stock Exchange.
All major U.S. stock indexes and commodities had solid gains on Monday on the news from the G-20.
At closing the Dow is up $203.90 to $10,277.09, a move of 2.03 percent, while the S&P 500 has moved 2.22 percent to $1,093.07. The S&P saw its sixth straight day of positive movement as sentiment towards the stock market continues to improve.
Commodities are also on the move with the weakness of the dollar, as gold has continued to break record highs, moving up 0.69 percent to $1,102.70 an ounce. Oil has seen a 2.35 percent increase to $79.25 per barrel. ETFs that trade based on the underlying gold and oil commodities include SPDR Gold Shares (NYSE: GLD) and United States Oil (NYSE: USO), both higher on the session.
Some of the biggest movers in the U.S stock markets included General Electric (NYSE: GE) up 3.39 percent to $15.85, Caterpillar Inc. (NYSE: CAT) up 4.20 percent to $60.02, and Google (Nasdaq: GOOG) up 1.95 percent to $561.85.
If if the trend holds, the weak dollar will continue to be good news for the stock market and commodities, while spelling trouble for future inflation as government stimulus spending continue to be the underlying driver.
The stock market continues to trade in the opposite direction of the U.S. dollar, which traded at a 15-month low on Monday.
The weaker dollar has helped the stock market since it helps U.S. exporters by making the goods that they sell less costly to overseas buyers. For every one stock that fell on Monday, five more rose in the New York Stock Exchange.
All major U.S. stock indexes and commodities had solid gains on Monday on the news from the G-20.
At closing the Dow is up $203.90 to $10,277.09, a move of 2.03 percent, while the S&P 500 has moved 2.22 percent to $1,093.07. The S&P saw its sixth straight day of positive movement as sentiment towards the stock market continues to improve.
Commodities are also on the move with the weakness of the dollar, as gold has continued to break record highs, moving up 0.69 percent to $1,102.70 an ounce. Oil has seen a 2.35 percent increase to $79.25 per barrel. ETFs that trade based on the underlying gold and oil commodities include SPDR Gold Shares (NYSE: GLD) and United States Oil (NYSE: USO), both higher on the session.
Some of the biggest movers in the U.S stock markets included General Electric (NYSE: GE) up 3.39 percent to $15.85, Caterpillar Inc. (NYSE: CAT) up 4.20 percent to $60.02, and Google (Nasdaq: GOOG) up 1.95 percent to $561.85.
If if the trend holds, the weak dollar will continue to be good news for the stock market and commodities, while spelling trouble for future inflation as government stimulus spending continue to be the underlying driver.
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