With the positive news that the polls are leaning towards Britain remaining in the European Union, the United States stocks sharply rose.
Asian stocks also traded higher and indexes in Europe were up as the latest opinion polls and betting markets suggested it was more likely that Britain would stay in the E.U. Britons vote in a referendum on the matter on Thursday.
The British pound rose sharply, and investors dumped ultrasafe assets like American government bonds, gold and utility stocks, sending those prices lower. Machinery and consumer companies jumped, and energy companies rose with the price of oil.
- Standard & Poor’s 500-stock index up by 12.03 points, 0.6% to 2,083.25.
- The Nasdaq composite up by 36.88 points 0.8% to 4,837.21.
- The Dow Jones industrial average up by 129.71 points, 0.7% to 17,804.87.
- Boeing gained $2.93, or 2.3% to $132.75
- Honeywell up by $1.14, or 1% to $117.06.
- General Electric up by 23 cents to $30.83.
- Amazon up by $7.62, or 1.1% to $714.01,
- Priceline up by $32.72, or 2.5% to $1,341.96
- Nike rose 65 cents, or 1.2% to $54.36.
- Benchmark United States crude oil rose $1.39, or 2.9% to $49.37 a barrel
- Brent crude gained $1.48, 3% to $50.65 a barrel in London.
- Chevron up by $1.04, 1% to $102.61.
- Marathon Oil up by $1.32, 10% to $14.48, company agreed to pay $888 million for PayRock Energy.
Bond prices dropped as investors moved money out of ultrasafe assets. The yield on the 10-year Treasury note rose to 1.68 percent from 1.61 percent late Friday.
The FTSE 100 in Britain leapt 3 percent and the CAC 40 in France rose 3.5 percent. The German DAX was up 3.4 percent. Japan’s benchmark Nikkei 225 index surged 2.3 percent. The South Korean Kospi climbed 1.4 percent and in Hong Kong the Hang Seng added 1.7 percent.
In other energy trading, wholesale gasoline added 8 cents, to $1.58 a gallon. Heating oil edged up 5 cents, to $1.53 a gallon. Natural gas rose 12 cents, to $2.75 per 1,000 cubic feet.
Gold slipped $2.50, to $1,290 an ounce. Silver rose 10 cents, to $17.51 an ounce. Copper added 4 cents, to $2.09 a pound.
The pound rose to $1.4684 from $1.4361. The dollar fell to 103.86 yen from 104.21 yen and the euro rose to $1.1305 from $1.1277.
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