The Nasdaq composite was in the driver's seat near midday Monday, and the Dow marked a fresh all-time high, as the week started off on a positive note.
Stock futures on Sunday initially traded lower and the euro plunged after Italian voters a rejected a plan from Prime Minister Matteo Renzi that promised to streamline the country's government. The euro was up and the U.S. dollar was down early Monday.
The Nasdaq popped above its 50-day moving average, rising 1%. The S&P 500 added 0.6%, and the Dow Jones industrial average picked up 0.3%. Early data showed volume on the NYSE and Nasdaq tracking slightly lower than Friday's levels.
Oil and gas stocks outperformed. Utilities lagged. At the New York Mercantile Exchange, benchmark crude oil futures added 0.4% to $51.86 a barrel.
In the stock market today, Nike (NKE), Goldman Sachs (GS) and Visa (V) were standout performers in the Dow, with gains of 2% to 3%. HSBC started coverage of Goldman with a buy rating and 250 price target.
Dow component Apple (AAPL) eased 0.6% as it consolidates gains below the 50-day moving average. A letter to the National Highway Traffic Safety Administration sent last month by Apple said the company is "investing heavily in the study of machine learning and automation, and is excited about the potential of automated systems in many areas, including transportation."
The Nasdaq's strength was good for IBD 50 stocks as 20 names in the index were up 2% or more. Component Dave & Buster's (PLAY) was in rally mode again ahead of Tuesday's earnings report after the market close. Shares rose 2.5% to 48.72. The stock is close to the top of a buy range, nearly 4% past a 46.94 buy point.
Among new issues, e.l.f. Beauty (ELF) outperformed, rising 3% to 30.57. It's slightly extended from a 29.02 buy point.
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