Investing.com - U.S. stock markets added to the previous week's gains at the start of the week on Monday, following Friday’s better-than-expected U.S. employment data, while robust earnings results also pushed stocks higher.
At the start of U.S trade, the Dow Jones Industrial Average was up 0.45%, the S&P 500 index climbed 0.43% while the Nasdaq Composite index gained 0.46%.
Market sentiment remained subdued as investors remained cautious about how effective European policymakers' latest pledges to resolve the bloc's debt crisis would be.
The ECB indicated last week that it may restart its bond buying program, to help lower Spanish and Italian borrowing costs.
However, central bank head Mario Draghi said any such action was conditional on euro zone governments experiencing difficulty on bond markets applying to the bloc’s bailout funds to purchase government bonds and accepting strict conditions and supervision.
Shares of electronic retailer Best Buy jumped 18.31% in early trade after founder and former chairman Richard Schulze said he wants to take the company private by purchasing all the shares he doesn’t already own at USD24 to USD26 per share.
The offer represents a 36% to 47% premium over Best Buy's Friday’s closing price of USD17.64 per share.
Shares of Warren Buffets Berkshire Hathaway were up 0.39% after second quarter profits beat analyst’s expectations, on the back of gains at insurance units, manufacturing operations and the energy company and railroad Burlington Northern Santa.
In the auto sector, shares in General Motors were up 0.20%, after it reported that car sales in China were up 15% year-over-year in July, boosted by government policies aimed at supporting car purchases in rural areas.
Shares of information technology services provider's Cognizant jumped 10.77% after it reported a better-than-expected quarterly profit on increased demand for its outsourcing services and raised its full-year adjusted profit forecast.
The company said net income rose to USD251.9 million, or 82 cents per share, for the second quarter from USD208 million, or 67 cents per share, a year earlier. The company said it now expects full-year adjusted earnings of at least USD3.64 per share, up from its previous forecast of USD3.62 per share.
On the downside, shares in Knight Capital Group tumbled 29.26%.
The trading firm reached a rescue deal worth approximately USD400 million with an investment group over the weekend, after a software glitch last Wednesday led to a USD440 million loss and a massive decline in customer confidence.
Across the Atlantic, European equities markets were also higher.
During European afternoon trade, the EURO STOXX 50 was up 1.39%, France's CAC 40 gained 1.17%, while Germany's DAX 30 added 0.96%. Meanwhile, in the U.K. the FTSE 100 was up 0.58%.
At the start of U.S trade, the Dow Jones Industrial Average was up 0.45%, the S&P 500 index climbed 0.43% while the Nasdaq Composite index gained 0.46%.
Market sentiment remained subdued as investors remained cautious about how effective European policymakers' latest pledges to resolve the bloc's debt crisis would be.
The ECB indicated last week that it may restart its bond buying program, to help lower Spanish and Italian borrowing costs.
However, central bank head Mario Draghi said any such action was conditional on euro zone governments experiencing difficulty on bond markets applying to the bloc’s bailout funds to purchase government bonds and accepting strict conditions and supervision.
Shares of electronic retailer Best Buy jumped 18.31% in early trade after founder and former chairman Richard Schulze said he wants to take the company private by purchasing all the shares he doesn’t already own at USD24 to USD26 per share.
The offer represents a 36% to 47% premium over Best Buy's Friday’s closing price of USD17.64 per share.
Shares of Warren Buffets Berkshire Hathaway were up 0.39% after second quarter profits beat analyst’s expectations, on the back of gains at insurance units, manufacturing operations and the energy company and railroad Burlington Northern Santa.
In the auto sector, shares in General Motors were up 0.20%, after it reported that car sales in China were up 15% year-over-year in July, boosted by government policies aimed at supporting car purchases in rural areas.
Shares of information technology services provider's Cognizant jumped 10.77% after it reported a better-than-expected quarterly profit on increased demand for its outsourcing services and raised its full-year adjusted profit forecast.
The company said net income rose to USD251.9 million, or 82 cents per share, for the second quarter from USD208 million, or 67 cents per share, a year earlier. The company said it now expects full-year adjusted earnings of at least USD3.64 per share, up from its previous forecast of USD3.62 per share.
On the downside, shares in Knight Capital Group tumbled 29.26%.
The trading firm reached a rescue deal worth approximately USD400 million with an investment group over the weekend, after a software glitch last Wednesday led to a USD440 million loss and a massive decline in customer confidence.
Across the Atlantic, European equities markets were also higher.
During European afternoon trade, the EURO STOXX 50 was up 1.39%, France's CAC 40 gained 1.17%, while Germany's DAX 30 added 0.96%. Meanwhile, in the U.K. the FTSE 100 was up 0.58%.