US opens higher amid World Economic Forum remarks
Major stock indexes in the United States traded higher at the open on Monday, as many high officials gathered at the World Economic Forum in Switzerland. US lawmakers underlined that the country needs to be "self-reliant" and "cut dependency" on Asia and China when it comes to energy sources.
Earlier, the US launched the Indo-Pacific Economic Framework for Prosperity (IPEF) with a number of Washington's allies from the region. On the situation in Ukraine, Kiev officials expressed concerns over Russian President Vladimir Putin's behavior that could trigger a nuclear war.
The Dow Jones rose 0.85% or 265 points at the opening bell, with The Travelers Companies going up 1.56% at 9:30 am ET. The S&P 500 added 0.77% at 9:31 am, as Ross Stores skyrocketed 4.52% at the same time. The Nasdaq 100 increased 0.43% at the open, with Applied Materials jumping 1.90% at 9:32 am ET. The euro gained 0.85% against the dollar at 9:29 am ET, selling for 1.06522.