Stocks Rally As China Reopening Boosts Markets, But Investor Sentiment Remains ‘Precarious’Markets moved slightly higher on Monday as
stocks tried to rebound from a losing week; investor sentiment rose thanks to positive news out of China, which looks to be easing coronavirus lockdown restrictions and regulatory crackdowns on its tech sector.
The
Dow Jones Industrial Average rose
0.1%, less than 100 points, while the
S&P 500 gained
0.3% and the tech-heavy
Nasdaq Composite 0.4%.Investor sentiment was up early on Monday after news that
China would be rolling back more of its Covid-19 restrictions, with the reopening news providing a boost to global markets.
U.S. tech stocks largely moved higher and led the market gains on Monday: Shares of
Apple rose nearly
1% and Google parent
Alphabet 2%, while e-commerce giant
Amazon saw its stock jump more than
2% on the first day of trading after a 20:1 stock split took effect.
