Dow jumps over 300 points shortly after opening

Xinhua
04 May 2021, 02:05 GMT+10

NEW YORK, May 3 (Xinhua) -- U.S. stocks kicked off the first trading session of May on a strong note, with the Dow up more than 300 points on Monday morning.

Shortly after the opening bell, the Dow Jones Industrial Average jumped 336.70 points, or 0.99 percent, to 34,211.55. The S&P 500 added 27.25 points, or 0.65 percent, to 4,208.42. The Nasdaq Composite Index rose 30.96 points, or 0.22 percent, to 13,993.64.

Ten of the 11 primary S&P 500 sectors advanced in morning trading, with energy up 1.9 percent, leading the gainers. Real estate slipped 0.4 percent, the lone declining group.

Stocks tied to economic reopening such as cruise lines and retailers traded on an upbeat note.

For the week ending Friday, the Dow fell 0.5 percent, the S&P 500 eked out a gain of 0.2 percent, and the Nasdaq Composite declined 0.4 percent, as Wall Street digested a big wave of earnings reports from tech giants and a key statement from the Federal Reserve.

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