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