Stocks rallied on Monday to start the holiday shortened trading week following President Donald Trump’s announcement that an agreement had been reached to end the conflict between the U.S. and Iran.
The Dow Jones Industrial Average rose by 702 points, or 1.4%, reaching a new intraday high during the session. The S&P 500 increased by 1.9%, while the Nasdaq Composite surged by 3%.
Shares of SpaceX jumped over 10% after soaring 19% in their public market debut last Friday.
“It appears to be much more orderly than I initially expected, which is a positive sign,” said Brian Mulberry, chief market strategist at Zacks Investment Management.
“This isn’t some meme stock out of the gate; rather, it’s being added to portfolios and held, not just traded for quick gains.”
Source (CNBC)
