Stocks are moving higher yet again on Monday (US time), adding to a streak that gave the market its best weekly gain since November last week. Investors continue to be focused on company earnings and the higher prospects for more economic stimulus to combat the impact of the coronavirus.
In mid-afternoon trade, the S&P 500 is up 0.3 per cent , the Dow Jones Industrial Average has added 0.4 per cent and and the Nasdaq is 0.5 per cent higher. Small-company stocks continued to far outpace the rest of the market, with the Russell 2000 index of small company stocks up 1.8 per cent, That’s a sign investors are feeling optimistic about the economy.
Wall Street has made another bright start to the trading week. Credit:New York Stock Exchange
Despite the positive lead, the Australian sharemarket is poised to slip with futures pointing to a fall of 24 points, or 0.4 per cent, at the open.
Wall Street investors have been encouraged by surprisingly good corporate earnings reports, news that a recent surge in new coronavirus cases is easing, and progress in the distribution of vaccines.
