U.S. stocks open higher as tech sector leads

0 Comment(s)Print E-mail Xinhua, August 3, 2020
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NEW YORK, Aug. 3 (Xinhua) -- U.S. stocks opened higher on Monday, bolstered by solid gains in big tech names.

Shortly after the opening bell, the Dow Jones Industrial Average increased 133.37 points, or 0.50 percent, to 26,561.69. The S&P 500 was up 19.41 points, or 0.59 percent, to 3,290.53. The Nasdaq Composite Index climbed 98.54 points, or 0.92 percent, to 10,843.82.

Apple shares rose more than 4 percent in morning trading, after soaring over 10 percent on Friday. The company reported earnings results late Thursday that easily topped forecasts.

Shares in Microsoft and Netflix, another two tech giants, also rallied.

Of the 11 primary S&P 500 sectors, technology advanced about 2 percent, outpacing the rest. Real estate, however, slipped 1.7 percent, the worst-performing group.

Wall Street's major averages posted mixed results in the past week as investors continued to weigh the impact from a resurgence in U.S. coronavirus infections.

For the week ending Friday, the Dow lost 0.2 percent, while the S&P 500 and the Nasdaq gained 1.7 percent and 3.7 percent, respectively. Enditem

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