Metals firm Alcoa was among Wall Street’s risers on Monday as US stocks began the week positively.
After a fairly quiet end to last week, in which trading was closed for a day and a half for the American Independence Day holiday, investor appears somewhat revitalised.
Friday’s better than expected non-farm jobs report certainly helped lift the mood.
Recent data appears to show the kind of improvement in the US that the Federal Reserve and Ben Bernanke been banking on, as they began weighing up a ‘tapering’ of the fiscal support that has been propping up markets.
In New York today the Dow Jones gained 120 points, about 0.8%, to trade at 15,256. The S&P 500 gained around to 0.7% to 1,643, while the Nasdaq gained 0.25% to 3,487.
As we move into the third quarter corporate reporting may also help provide catalysts for investors.
Alcoa, the world’s third largest aluminium producer, is due to release its results after Monday’s market close. In anticipation its shares, one of the thirty constituents of the Dow Jones index, advanced 0.5%.
Meanwhile computer firm Dell gained over 2% as Michael Dell’s US$24bn buy-out got the backing of advisory firm ISS.
Financial giants JP Morgan and Well Fargo will be among the other blue-chip stocks reporting financials this week.