Stocks in US surge yet signs of dip remain
Shares of Goldman Sachs were also traded 4% higher
After a last week’s plunge, the stocks in the US witnessed a surge with the Dow Jones Industrial Average gaining 157 point or 0.4% and the S&P 500 also climbing 0.4%, reported CNBC Monday.
According to the report, the Nasdaq also saw a surge of 0.2%, amid the data suggesting that there may not be escalation in the geopolitical conflicts around the world, focusing largely on the Middle East.
The shares of Goldman Sachs were also traded 4% higher with JPMorgan gaining 2% in today’s exchange of equities, that were lost last week.
A fresh economic data also forced the traders to help equities climbing high.
The outlet reported: “Retail sales increased 0.7% for the month of March, providing the latest indication that consumption remains strong in spite of inflationary pressures.”
However, as the market was on the rise, the Gold futures plunged over 1% to $2,346.00 an ounce, before the yellow metal hit a new record last week.
The bullion is currently 15% up this year as people are investing more in gold to hedge against inflation and geopolitical tensions.
The prices of Oil in the market also dipped Monday, bringing losses to those who earned from last week’s gains. As the Israel thwarted Iranian missiles and drones attack, investors appeared positive.
"Historically, geopolitical shocks cause short-term volatility, not long-term market declines," Emily Bowersock Hill, CEO of Bowersock Capital Partners was quoted as saying by the outlet.
"In this current environment, however, the risk of an extended period of volatility is higher, given the inflationary oil price shocks that may emanate from the heightened tensions in the Middle East."
As the attack was thwarted, the fears of Israeli retaliation still haunt the market.