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Post by bot on Aug 14, 2017 18:40:06 GMT -5
Dow closes up 135 points as North Korea tensions ease
U.S. stock benchmarks rallied Monday, as a recent aversion to assets considered risky on the back of fears about tensions between the U.S. and North Korea receded somewhat. The Dow Jones Industrial Average closed up by 0.6% to end at 21,993, led by about jumps in shares of Goldman Sachs Group Inc. and Apple Inc. . The S&P 500 index advanced 1% at 2,466, buoyed by a 1.4% surge in financials and 1.6% surge in the technology sector [s:XLK], while the tech-heavy Nasdaq Composite Index rose 1.3% at 6,340--its best daily raise since June 28. The rebound in equities follows one of the worst weeks in U.S. stock benchmarks in months, and also comes after a weekend of violence in Charlottesville, Va., which was the scene of angry clashes centered on a white-supremacist rally that left one person dead. Shares of Merck & Co. Inc. rose 0.5% as CEO Kenneth Frazier resigned from President Donald Trump's American Manufacturing Council, citing his disagreement with POTUS's response to the Virginia violence. In other corporate news, shares of Tesla Inc. rose nearly 1.7% higher after Baird analyst Ben Kallo, a longtime Tesla bull, hiked his price target for the electric-car maker's stock to $411 from $368.
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