U.S. stock benchmarks trade higher Monday morning, as worries about the inflation picture and rising rates recede.
The Dow Jones Industrial Average rose about 215 points, or 0.9%, at 25,524, while the S&P 500 index was up 0.7% at 2,765. The Nasdaq Composite Index climbed 0.8% to 7,391. The Nasdaq is less than 2% shy of its Jan. 26 record, while the Dow is about 4.1% from its all-time peak, while the S&P 500 is just 3.7% short of its late January record, highlighting the recent rally for those benchmarks since tumbling by at least 10% on Feb. 8.
Concerns that inflation could be returning to markets, and that the U.S. central bank may have to more aggressively raise interest rates to combat such a scenario, has been the primary driver of trading in recent weeks, even eclipsing a strong earnings season. In corporate news, United Parcel Service Inc. announced it is suing the European Union's antitrust watchdog for $2.15 billion plus interest over its decision to block a $7 billion merger with Dutch-based TNT Express NV in 2013.
Source : Marketwatch