US stocks open higher; energy, GE early gain­ers

The China Post - - FRONT PAGE - BY KEN SWEET AND CHRISTO­PHER S. RU­GABER

U. S. and global stocks rose in early trad­ing Mon­day af­ter a gloomy U. S. jobs re­port last week led in­vestors to ex­pect that the U. S. Fed­eral Re­serve will post­pone its first in­ter­est rate in­crease in nearly a decade. Energy stocks rose along with the price of oil.

The Dow Jones in­dus­trial av­er­age rose 164 points, or 1 per­cent, to 16,636 as of 10: 28 a. m. Eastern. The Stan­dard & Poor’s 500 in­dex added 20.40 points, or 1.1 per­cent, to 1,972 and the Nas­daq com­pos­ite rose 36 points, or 0.8 per­cent, to 4,743.

Euro­pean stocks rose even more. Ger­many’s DAX added 2.8 per­cent, France’s CAC- 40 in­dex jumped 3.5 per­cent and the UK’s FTSE 100 rose 2.5 per­cent.

Growth in the U. S. ser­vices sec­tor slowed in Septem­ber as sales fell and new or­ders plunged, ev­i­dence that stock mar­ket volatil­ity may have hit con­sumer con­fi­dence and lim­ited spend­ing.

The In­sti­tute f or Sup­ply Man­age­ment says its ser­vices in­dex fell to 56.9 last month from 59 in Au­gust, which was the sec­ond- high­est read­ing in a decade. Any read­ing above 50 sig­nals ex­pan­sion.

Newspapers in English

Newspapers from Taiwan

© PressReader. All rights reserved.