By Geoffrey Smith
Investing.com — U.S. stock markets opened higher on Monday on expectations of sustained levels of monetary stimulus in the U.S. and the continuation of a broadly positive second-quarter earnings season.
By 9:35 AM ET (1335 GMT), the was up 132 points, or 0.4%, at 35,068 points. The and the were both up 0.5%.
Over the weekend, Federal Reserve board member Lael Brainard had repeated the central bank’s message that the labor market was still too far from its pre-pandemic condition of health for the Fed to reduce its asset purchases, while both she and noted ‘dove’ Neel Kashkari at the Minnesota Fed warned about possible headwinds from the spread of the Covid-19 virus.
Sentiment was also helped by news over the weekend that Chinese regulators were seeking dialogue with the Securities and Exchanges Commission over the issue of Chinese listings in the U.S. A barrage of regulatory measures by Beijing has created a strong impression recently that the Communist Party was increasingly hostile to the idea of Chinese companies reporting data to U.S. regulators.
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