US: Stocks rise on talk of later rate hike

[NEW YORK] US stocks rose in opening trade Monday, following European markets higher in a rally attributed to relief that the Federal Reserve appears unlikely to raise interest rates any time soon.

Five minutes into trade, the Dow Jones Industrial Average stood at 16,592.30, up 119.93 points (0.73 per cent).

The broad-based S&P 500 rose 16.45 (0.84 per cent) to 1,967.81, while the tech-rich Nasdaq Composite Index gained 36.72 (0.78 per cent) at 4,744.50.

Bourses in London, Paris and Frankfurt were all up at least two per cent after Friday's weak US jobs report fuelled talk that the US Fed will hold off on a rate hike until December at the earliest.

AFP