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Investing.com — U.S. stock markets opened mixed on Monday, losing premarket gains amid ongoing uncertainty about the latest stimulus bill to be prepared by Congress.
Expectations that the Federal Reserve will signal a shift to an even looser monetary policy stance at its meeting this week offered some support, as did a modest decline in infection rates at the weekend of some the states hardest hit by the Covid-19 pandemic, as well as a continued rebound in durable goods orders in June.
Even so, few seemed in the mood to add to risk positions, with Gold Futures and Silver Futures seeing the bulk of speculative flows rather than equities. Gold hit a new all-time high while silver surged to its highest level in seven years.
By 9:40 AM ET (1330 GMT), the Dow Jones Industrial Average was down 14 points, or less than 0.1%, at 26,456 points. The S&P 500 was up by 0.2% and the Nasdaq Composite was up by 1.1%, thanks largely to Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL) gaining over 2% on the back of broker recommendations.
Gold mining stocks thrived in line with the price for the underlying asset. Barrick Gold (NYSE:GOLD) gained 5.4% to a seven-year high, while Newmont Goldcorp rose 4.0% to a new record high.
