Dow Opens higher after Asian stocks rally on U.S. Jobs Report

The Dow Jones Industrial Average opened 0.3 percent higher on Monday, following the strong closed on global stocks. The S&P 500 Index also opened 0.3 percent higher, after surging 1.7 percent on Friday. Global stocks rallied on Monday following the stronger than expected U.S. jobs report.

The better than expected job report helped calm investors about inflation rates and possible trade wars with other global economies. The report smashed expectations by adding 313,000 jobs in February while unemployment rate remained at 4.1 percent.

Tokyo’s Nikkei 225 closed 1.65 percent higher on Monday, jumping 354.83 points, increasing 655.83 points or 3.1 percent in the past week alone. Hong Kong’s Hang Seng Index closed 1.93 percent higher or 598.12 points, gaining 1001.55 points or increasing 3.27 percent in the past week.

Shanghai’s Index gained 0.6 percent, the Shenzhen Component gained 1.17 percent, Bombay’s BSE Index gained 1.83 percent and Taiwan’s TSEC Index gained 1.26 percent.

Seoul’s Kospi Index gained 1.0 percent Monday, following a strong week, gaining 4.6 percent. South Korean stocks were lifted higher the past week following a possible summit meeting between North Korean Leader and South Korean President.

Investors globally were eased by the news of the two Korean nations as North Korea said it was open to talks of denuclearization.

Australia’s ASX 200 closed 0.55 percent higher, following U.S. President Donald Trump’s announcement that he will be working with Australian Prime Minister to ensure the country isn’t affected by the steel and aluminum tariffs.

Leave a Comment