2 weeks ago
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By STAN CHOE, AP Business Writer
NEW YORK (AP) — U.S. stocks rose on Monday following sharp swings that shook financial markets overnight, including tumbles for Asian stocks. Gold and silver prices sank further following their latest wild moves.
On Wall Street, the S&P 500 added 0.5% and snapped a three-day losing streak. The Dow Jones Industrial Average rose 515 points, or 1.1%, and the Nasdaq composite gained 0.6%.
Stocks of companies that make computer storage helped lead the market, adding to gains from last week following several profit reports that topped analysts’ expectations. Airlines and cruise-ship operators were also strong, benefiting from a sharp easing of oil prices.
The center of action in financial markets was again precious metals, where momentum has suddenly halted after gold’s price roughly doubled in just 12 months.
English (US) ·