The Dow extended its gains in morning trading to 51,335.07, up $103.43. The Nasdaq was firm at 27,274.95, up 81.61 points. Market sentiment is believed to have improved against a backdrop of softer crude oil prices, broadening gains among major stocks.
The New York market rose over the weekend, with the Dow extending its gains against a backdrop of lower crude oil prices. As of 10:05 a.m., the Dow was at 51,335.07, up $103.43 from the previous close, while the Nasdaq Composite stood at 27,274.95, up 81.61 points.
Among individual stocks, UnitedHealth Group, Amazon.com, Microsoft and Alphabet made positive contributions, while Apple fell following reports about components. Outside the Dow constituents, Delta Air Lines also declined.
The preliminary October consumer sentiment index released by the University of Michigan on the 9th was 46.3, below the market forecast of 47.8, but the stock market reaction was limited. Uncertainty remains over the market's sensitivity to movements in the index.
While improving investor sentiment has prompted buying in technology stocks, including semiconductor names, movements in long-term interest rates continue to cap the upside.
Among related stocks, moves were also seen outside the Dow, with declines in Apple, Nike and Home Depot noted.