BREAKING: Trump Economy Just CRUSHED This All Time Record! Liberals In Complete DISBELIEF
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According to a story on CNBC:
Dow jumps 100 points as Cisco leads; S&P and Nasdaq hit record highs
The Dow Jones industrial average rose more than 100 points on Monday as Cisco Systems’ stock popped on the back of a massive cyberattack. The S&P 500 and Nasdaq composite also rose and hit record highs.
A “ransomware” virus dubbed WannaCry hit 200,000 in more than 100 countries on Friday. The virus locked up computers in car factories, hospitals and schools.
President Donald Trump ordered Homeland Security Adviser Tom Bossert to hold an emergency meeting Friday night to assess the threat posed by the attack, Reuters reported.
The PureFunds ISE Cyber Security ETF (HACK) rose more than 3 percent, putting it on track for its best day of the year.
The S&P 500 climbed 0.4 percent, with energy advancing more than 1 percent to lead advancers. Energy received a boost from rising oil prices.
West Texas Intermediate futures spiked 2.74 percent to $49.15 per barrel after Russia’s Alexander Novak and Saudi Arabia’s Khalid al-Falih said the two countries agreed to extend a production cut until March 2018.
That said, an increase production from the U.S. could cap energy’s gains, said Jason Pride, director of investment strategy at Glenmede. “Our Take: Oil should trade in the $50-70 range as increased demand is met by supply from U.S. share oil producers,” Pride said in a note Monday.
The comments from al-Falih and Novak helped the Energy Select Sector SPDR Fund (XLE), which tracks the S&P energy sector, climb about 1.2 percent.
The Nasdaq composite, meanwhile, was led higher by a rise in large-cap tech stocks, including Facebook and Alphabet.
Equities have traded near record levels recently as investors have shrugged off conflict in Washington that could derail the implementation of pro-growth policies as well as geopolitical tensions.
PLEASE TAKE NATIONAL POLLS AND PETITIONS. YOUR OPINION MATTERS Results Are Sent To Congress - Let Congress Hear Your Voice
PLEASE TAKE NATIONAL POLLS AND PETITIONS. YOUR OPINION MATTERS
Results Are Sent To Congress - Let Congress Hear Your Voice