US open: Stocks up, Morgan Stanley's Wilson calls 'tradeable rally'

(Sharecast News) - Stocks on Wall Street were rallying at the start of the week, helped by positive headlines on the geopolitical and economic front. As of 1416 GMT, the Dow Jones Industrials was advancing 1.24% to 42,501.36, and the S&P 500 by 1.5% to 5,752.29.

Worth noting, the S&P 500 was nudging up against its 200-day moving average from below, whilst the Nasdaq Composite was ahead by 1.89% to 18,117.73.

"Stronger seasonals, lower rates and oversold momentum indicators support our call for a tradeable rally from ~5500. A weaker dollar and stabilizing Mag 7 EPS revisions can drive capital back to the US. Beyond the tactical rally, volatility will likely persist this year," Morgan Stanley strategist Michael Wilson said in a research note dated 24 March.

In parallel, the yield on the benchmark 10-year bond was climbing roughly seven basis points to 4.324%.

Reports - yet to be confirmed - that the US administration's 'Liberation Day' trade tariffs planned for 2 April might be more targeted than initially feared were well-received on the Street.

Reports were that the White House would now centre on so-called reciprocal tariffs against a group of countries that account for the lion's share of foreign trade with the US, but probably avoid imposing industry-specific levies on top of those.

Meanwhile, overnight, Ukrainian defence minister, Rustem Umerov, described negotiations with US officials on Sunday as "productive and focused".

American negotiators were set to meet with their Russian counterparts in Riyadh, Saudi Arabia, on Monday, with a naval ceasefire in the Black Sea thought to be in focus.

Shares of Tesla were a top gainer, bouncing back by nearly 10% from oversold levels.

Lockheed Martin was off by 2% on the back of a downgrade out of BofA from 'buy' to 'hold'.

On the economic side of things, S&P Global reported that its 'flash' US services Business Activity Index jumped from a reading of 51.0 for February to 54.3 in March.

A rival Purchasing Managers' Index for manufacturing however slumped from 52.7 to 49.8.

Dow Jones - Risers

Boeing Co. (BA) $182.79 2.63% Home Depot Inc. (HD) $360.29 2.60% American Express Co. (AXP) $276.67 2.28% Goldman Sachs Group Inc. (GS) $578.00 2.28% JP Morgan Chase & Co. (JPM) $247.10 2.26% Visa Inc. (V) $342.28 1.97% Caterpillar Inc. (CAT) $341.74 1.77% International Business Machines Corporation (CDI) (IBM) $248.13 1.75% 3M Co. (MMM) $152.85 1.66% Cisco Systems Inc. (CSCO) $61.28 1.62%

Dow Jones - Fallers

Nike Inc. (NKE) $67.32 -0.92% Merck & Co. Inc. (MRK) $92.65 -0.49% Walt Disney Co. (DIS) $99.07 -0.40% Procter & Gamble Co. (PG) $166.15 -0.32% Unitedhealth Group Inc. (UNH) $516.13 -0.14% Verizon Communications Inc. (VZ) $43.96 -0.07% Microsoft Corp. (MSFT) $391.15 -0.03% Dowdupont Inc. (DWDP) $0.00 0.00% Walgreens Boots Alliance, Inc. (WBA) $11.10 0.05% McDonald's Corp. (MCD) $305.67 0.08%

S&P 500 - Risers

Gap Inc. (GAP) $21.26 6.22% United Airlines Holdings Inc (UAL) $78.89 5.38% Kohls Corp. (KSS) $8.72 5.31% Bath & Body Works, Inc. (BBWI) $31.85 5.18% Advanced Micro Devices Inc. (AMD) $111.54 4.79% Nucor Corp. (NUE) $127.84 4.78% Freeport-McMoRan Inc (FCX) $42.15 4.71% FedEx Corp. (FDX) $240.02 4.21% Analog Devices Inc. (ADI) $212.81 4.11% Ralph Lauren Corp (RL) $232.96 3.99%

S&P 500 - Fallers

Lockheed Martin Corp. (LMT) $431.05 -1.97% Nektar Therapeutics (NKTR) $0.85 -1.27% Western Union Co. (WU) $10.52 -1.17% Hormel Foods Corp. (HRL) $29.64 -1.13% Dollar General Corp (DG) $82.74 -1.11% Omnicom Group Inc. (OMC) $80.29 -1.05% Brown Forman Corp. Class B (BF.B) $34.33 -0.92% Nike Inc. (NKE) $67.32 -0.92% Southwest Airlines Co. (LUV) $34.51 -0.92% Bristol-Myers Squibb (BMY) $60.53 -0.88%

Nasdaq 100 - Risers

Tesla Inc (TSLA) $270.13 8.61% Qvc Group Inc Series A (QVCGA) $0.21 5.09% Analog Devices Inc. (ADI) $212.81 4.11% NetEase Inc. Ads (NTES) $100.67 3.73% Micron Technology Inc. (MU) $98.24 3.70% Microchip Technology Inc. (MCHP) $53.60 3.63% Texas Instruments Inc (TXN) $185.45 3.60% Meta Platforms Inc. (META) $617.50 3.56% Lam Research Corp. (LRCX) $78.25 3.18% Dollar Tree Inc (DLTR) $68.86 3.16%

Nasdaq 100 - Fallers

Vodafone Group Plc ADS (VOD) $9.36 -3.80% Kraft Heinz Co. (KHC) $29.28 -0.81% Liberty Global plc Series C (LBTYK) $12.08 -0.58% Starbucks Corp. (SBUX) $96.82 -0.26% Liberty Global plc Series A (LBTYA) $11.65 -0.17% Take-Two Interactive Software Inc. (TTWO) $213.22 -0.12% Netflix Inc. (NFLX) $959.57 -0.07% Check Point Software Technologies Ltd. (CHKP) $227.82 -0.06% Microsoft Corp. (MSFT) $391.15 -0.03% Gilead Sciences Inc. (GILD) $107.06 -0.02%