Stock prices rose sharply on Monday led by shares in technology giants. This caused Dow Jones Industrial Average to rise by 353 points, or 1.2 per cent. Other financial indicators also saw gains, with Nasdaq Composite advancing 2.9 per cent and S&P 500 rising 1.9 per cent. The three indices are most-followed stock markets in the United States. key performer on Monday was Apple, which soared impressive six per cent. Analysts say this was on back of investors anticipating tech giant to unveil its first 5G smartphone later this week. Other tech giants fared well. Facebook, Amazon and Microsoft jumped 5.3 per cent, 5.2 per cent and 3.5 per cent respectively.
Trading on Wall Street on Monday saw its best performance in three months. Confidence among investors continues to be strong, despite economic ravages created by coronavirus pandemic. Analysts say strength of tech companies is largely responsible for bullish markets. Most of these companies have proved largely immune to economic downturn experienced this year. Sales and use of many of their products and services have skyrocketed as people stay at home and become more dependent on Internet. Energy stocks were only stragglers on Monday. Their prices dropped after unexpected fall in U.S. crude oil prices.