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Stocks jump after two weeks of losses as bitcoin climbs 13 percent

Mount Equity Group Tokyo Japan > News > Business > Stocks jump after two weeks of losses as bitcoin climbs 13 percent

Stocks are broadly higher in morning trading on Wall Street Monday as investors regained an appetite for risk after the market notched two straight weeks of losses.

The S&P 500 index was up 1.1 percent as of 11:20 a.m. Eastern. The Dow Jones Industrial Average rose 215 points, or 0.6 percent, to 34,423, and the Nasdaq Composite was up 1.5 percent.

Technology stocks were among the bigger gainers, particularly semiconductor companies. Nvidia and Micron both rose more than 2 percent. Communications stocks, like Facebook, and a variety of companies that rely on direct consumer spending also made solid gains. Sectors that are viewed as safer investments, like utilities, lagged the broader market.

Investors continue to watch for potential signs of inflation as the economic recovery continues in the waning days of the US coronavirus pandemic.

Earnings season at this point is near its end. Investors will get results from Dell and this week, among a few others.

There’s only a handful of economic reports this week, including monthly home sales. On Friday, investors will get another reading on inflation in the form of the Commerce Department’s personal consumption and expenditures index. “Core PCE,” as it is known, is the