Mon, 26 Jul 2021

U.S. stocks in sharp recovery, Nasdaq gains 111 points

Lola Evans
22 Jun 2021, 06:12 GMT+10

NEW YORK, New York - U.S. stocks finished sharply higher on Monday as bargain-hunters bought up big.

The Dow Jones led the charge higher, jumping by 586.89 points or 1.76 percent to 33,876.97.

The Standard and Poor's 500 strengthened by 58.34 points or 1.40 percent to 4,224.79.

The Nasdaq Composite climbed 111.10 points or 0.79 percent to 14,141.48.

The U.S. dollar's recent rally stalled on Monday in U.S. trading as stocks rebounded. Approaching the New York close Monday the euro had firmed to 1.1917. The British pound was sharply higher at 1.3929. The Swiss franc rose to 0.9178.

The Canadian dollar was stronger at 1.2360. The Australian dollar jumped to 0.7538. The New Zealand dollar made a more subdued rise to 0.6992.

The Japanese yen, going against the trend, weakened to 110.29.

Overseas, the Dax in Germany rose 1.00 percent. The Paris-based CASC 40 added 0.51 percent, while the FTSE in London firmed up by 0.64 percent.

On Asian markets, the Nikkei 225 in Tokyo was the biggest casualty, diving 953.15 points or 3.29 percent to 28,010./93. The index at one stage was down four percent.

The Australian All Ordinaries tumbled 139.10 points or 1.82 percent to 7,485.20.

The Hang Seng in Hong Kong lost 312.27 points or 1.08 percent to 28,489.00.

China's Shanghai Composite added 4.09 points or 0.12 percent to 3,529.18.

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