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US stocks rebound after last week's sharp losses
(MENAFN- AFP) Wall Street stocks pushed higher in opening trade Monday, reversing course after last week's heavy losses helped by a strong report on US industrial production in November.
Five minutes into trade, the Dow Jones Industrial Average added 103.65 points (0.60 percent) at 17,384.48.
The broad-based S&P 500 gained 14.99 (0.75 percent) at 2,017.32, while the tech-rich Nasdaq Composite Index rose 31.45 (0.68 percent) to 4,685.04.
Shares of pet supply chain PetSmart jumped 4.7 percent to $81.29 after announcing that BC Partners would take over the company in an $8.7 billion, $83.00-a-share deal.
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