US stocks open with modest gains
In this Friday, Aug. 3, 2012, file photo, trader Ryan Falvey, foreground right, works on the floor of the New York Stock Exchange. US stocks opened modestly higher Monday, August 6, 2012, carrying on Friday’s strong rally on upbeat US jobs numbers despite worries over the eurozone’s sovereign debt crisis. AP PHOTO/RICHARD DREW
NEW YORK—US stocks opened modestly higher Monday, carrying on Friday’s strong rally on upbeat US jobs numbers despite worries over the eurozone’s sovereign debt crisis.
After the first five minutes of trade, the Dow Jones Industrial Average was up 45.41 points, or 0.35 percent, at 13,141.58.
The tech-rich Nasdaq rose 11.49 (0.39 percent) to 2,979.39, while the S&P 500, a broad measure of the markets, climbed 4.78 (0.34 percent) to 1,395.77.
“Investors are looking to add to Friday’s gains, despite discouraging comments out of Europe. Italian Prime Minister Mario Monti warned that the euro could face a breakup unless more urgency is placed on reducing the region’s borrowing costs,” said Wells Fargo Advisors analysts.
There were no economic indicators scheduled for release Monday.
On Friday, the Labor Department reported stronger-than-expected jobs growth in July, sending stocks sharply higher. The Dow jumped 1.7 percent, the Nasdaq gained 2.0 percent and the S&P 500 added 1.9 percent.
