US stocks open higher on tech gains

2020-08-03 14:49:34 GMT (

The major US stock indices rose on Monday, lifted by the tech sector, which pushed Nasdaq to its all-time record.


Major tech companies announced better earnings than analysts expected in the second quarter despite the coronavirus pandemic.


The CEOs of Amazon, Facebook, Apple and Alphabet appeared last week before the Congress antitrust subcommittee to testify on accusations of monopoly and privacy violations.


Market focus will shift during this week to the US monthly jobs report that will be released on Friday, for more cues on the labor market state.


As for stocks, Dow Jones rose 0.7% or 230 points to 26,656 as of 14:14 GMT, Nasdaq rose 1.1% or 120 points to 10,867, and S&P 500 added 0.7% or 25 points to 3,295.

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