Wall Street rose on Monday, though indexes ended far from the highs of the day, in a relief advance after indications that British voters later this week will choose to remain in the European Union.
The day's gains were cut in more than half from the session highs, but contrasted with declines in six of the last seven sessions. The S&P 500 closed 0.6 percent higher after gaining as much as 1.4 percent, but the advance was still the largest in nearly a month.
Stocks fell sharply last week, partly on worries of what a British exit from the EU would mean for the global economy. The vote on whether to stay is scheduled for Thursday and the most recent polls showed a change in momentum to favor the 'remain' camp.
"The market is positioning for a 'remain' vote, so you see the fear and uncertainty trade unwinding right now," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.
For More Information Stock advisory company indore,stock market news,stock advisory tips,best stock advisory company in indore, Stock Future tips,currency premium, Nifty Future Tips, stock cash tips,Bullion tips And call us:-9827808090
Stocks fell sharply last week, partly on worries of what a British exit from the EU would mean for the global economy. The vote on whether to stay is scheduled for Thursday and the most recent polls showed a change in momentum to favor the 'remain' camp.
No comments:
Post a Comment