Dow posts best win streak since July as United States stocks end higher

About 30 minutes into trade, the Dow Jones Industrial Average was at 16,860.31, up 83.88 points (0.50 percent).

The weaker dollar should help boost American multinational companies’ profits when their overseas earnings are converted back to the US currency.

“Despite the inspiration gained by WTI bulls, the global themes concerning the decline in commodity prices, the slowdown in Asia and continual concerns over the pace of growth in Europe and Japan have not changed”. The index retreated twice after reaching its 50-day moving average at 1996.57.

The biggest gainer in the S&P 500 and Dow was chemical giant DuPont, which rose $3.93, or almost 8 percent, to $55.21.

The Nasdaq (^IXIC) closed up 42.79 points, or 0.90 percent, at 4,791.15.

Energy surged about 2 percent to lead gains in the S&P 500, helping the index come within 15 points of the psychologically key 2,000 level.

“I think oil’s put in a nice bottom here”, said Peter Coleman, head of trading at Convergex.

The U.S. stocks traded higher in the morning session on Monday, as Wall Street believed that the possibility for the US Federal Reserve to raise interest rate this year becomes lower following a weaker-than-expected jobs report on Friday.

The S&P 500 index showed eight new 52-week highs and no new lows, while the Nasdaq recorded 48 new highs and 34 new lows.

Japan’s Topix index swung between gains and losses, while the S&P/ASX 200 Index Sydney jumped 0.5% as mining and energy stocks extended gains.

Adobe Systems Inc. fell 5.3%, the most in six weeks, after forecasting fiscal 2016 sales and profit that fell short of analysts’ estimates. PepsiCo also raised its full-year growth forecast. Alcoa Inc. reports after markets close Thursday, while companies reporting next week include Johnson & Johnson, Intel Corp. and JPMorgan Chase & Co. Brands was also the S&P’s losing weight after exposure less than strong commissions out from China, that will makes up about most of their of their turnover.

“It’s unfortunate that American consumers are spending their money on imported goods, but at least they are spending freely”.

That widening deficit could shave off one-half to three-fourths a percentage point from third-quarter GDP because businesses won’t be adding to their inventories, and that is weighing heavily on Tuesday’s markets, said James Paulsen, chief investment strategist and economist at Wells Fargo Capital Management.

The heavily-weighted energy sector was among the advancers, rising three per cent even as the November contract for benchmark crude oil lost 72 cents to US$47.81 a barrel.