Dow opens up 100 points as stock market tries to extend previous session gains amid oil rally

Monday, 7 May 2018 20:54 WIB

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U.S. stock indexes opened modestly higher Monday as a rise in the price of crude oil boosted energy-related shares.

The Dow Jones Industrial Average rose 114 points, or 0.5%, at 24,376, the S&P 500 index climbed by 0.4% at 2,672, with the energy sector up 0.9%. The Nasdaq Composite Index advanced by 0.4% at 7,235. Monday's moves come after a rally in shares of Apple Inc overshadowed a lackluster April jobs report, which showed that fewer number of jobs were created in the month than had been anticipated by economists surveyed by MarketWatch.

Meanwhile, crude-oil prices climbed above $70 a barrel early in the session, their highest level since 2014. With crude futures rising, investors were likely to keep a close eye on comments linked to the Iran nuclear deal. Separately, shares of Athenahealth Inc jumped after CNBC reported that Elliott Management is preparing an all-cash deal between $155 and $160 a share for the health-care company.

Source: Marketwatch


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