"Wild swings that swept through financial markets overnight eased after Wall Street opened for trading on Monday. U.S. stocks rose modestly following gains in Europe and sharp drops in Asia, while gold and silver prices rallied back from severe earlier losses. The S&P 500 added 0.5% and is on track to snap a three-day losing streak. The Dow Jones Industrial Average was up 317 points, or 0.6%, as of 10:15 a.m. ET, and the Nasdaq composite was 0.6% higher."
"The center of the action in financial markets was again precious metals, where momentum suddenly halted after gold's price roughly doubled in 12 months. Gold briefly dropped below $4,500 per ounce in the overnight hours, down more than $1,000 from its high point reached just last week. It later pulled back to $4,742.80, down 0.1% from Friday. Silver's price has been on an even wilder ride recently, and it swung from a 9% loss overnight to a 0.3% gain."
Wild market swings eased after Wall Street opened, with U.S. stocks rising modestly following gains in Europe and sharp drops in Asia. The S&P 500 climbed 0.5%, the Dow rose about 317 points (0.6%), and the Nasdaq gained 0.6%. Computer-storage companies led gains after profit reports topped expectations, while airlines and cruise lines benefited from an easing of oil prices. Precious metals dominated market moves, with gold briefly falling below $4,500 per ounce before settling around $4,742.80 and silver swinging from a 9% overnight loss to a 0.3% gain. Investors sought metals amid concerns over Fed independence, expensive equity valuations, tariff threats, and heavy government debt.
Read at Fast Company
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