Dow posts eighth straight day of advances
U.S. shares rose Monday as trade tensions cooled off and energy companies posted gains amid higher oil prices.
The Dow Jones Industrial Average extended its winning streak to eight days, climbing 68.24 points, or 0.27%, to 24,899.41. The S&P 500 edged 2.41 points higher to 2,730.13. The Nasdaq Composite was up 8.43 points, or 0.11%, at 7,411.32.
Several telecom equipment makers gained from a President Trump tweet that he's working with Chinese President Xi to find a way to get Chinese smartphone maker ZTE "back into business fast."
Acacia Communications surged nearly 9%, and Oclaro, Lumentum Holdings, Finisar and Applied Optoelectronics were up as well.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 44296.51 | +426.16 | +0.97% |
| SP500 | S&P 500 | 5969.34 | +20.63 | +0.35% |
| I:COMP | NASDAQ COMPOSITE INDEX | 19003.651134 | +31.23 | +0.16% |
U.S. crude gained 31 cents to $71.01 a barrel. Shares of Exxon Mobil and Chevron were higher.
Casino and gaming stocks such as MGM Resorts, Boyd Gaming and Caesars Entertainment surged following a Supreme Court ruling that allows states to legalize sports betting.
Xerox shares fell 4.3% after the company scrapped a planned merger with Fujifilm under pressure from activist investor Carl Icahn.
Symantec, known for Norton and LifeLock security products, recovered 9.6% after a sharp decline Friday in reaction to an internal audit.
A dozen S&P 500 companies will report earnings this week, with the emphasis on retail. Among the retailers reporting this week, Home Depot, Macy’s and Walmart.
Investors will also get the latest report on retail sales Tuesday morning.
FOX Business' Leia Klingel contributed to this article.