Wall Street Opens Higher Despite Friday’s Attacks in Paris

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Wall Street opened higher on Monday despite Friday’s attacks in Paris. Out of the S&P’s 10 major sectors, eight were higher. The .SPLRCS lead the advancers with a 0.9% gain.

Oil prices also jumped after France carried out airstrikes in Syria, the prices reverted amid concerns of a continued supply glut. Chevron (CVX) jumped 0.8%, while Exxon’s (XOM) shares inched up 0.5%.

Investors expect the attacks to have a modest economic impact, but the travel sector took a major hit.

United Continental (UAL) declined 2.2%, American Airlines (AAL) fell 2.3%, and Delta Airlines (DAL) slid 3.1%.

Carnival Corp. (CCL) also felt the effects of the attacks, with shares falling 2.9%. Expedia (EXPE) was also down 2.5%.

The Dow Jones (.DJI) increased to 0.33%, or 57.19 points, to reach 17,302.43. The S&P 500 (.SXP) jumped 0.26%, or 5.27 points, to reach 2,028.31.

The NASDAQ (.IXIC) slid 8.95 points (0.18%) to reach 4,918.93. Amazon (AMZN) and Facebook (FB) led the declines. Both companies were down 2%.

Friday’s attacks in Paris added to market uncertainty, Warren Buffett, billionaire investor, has noted that he will not be selling any securities from his portfolio because of the attacks. However, he did cut his interests in Walmart (WMT) and Goldman Sachs (GS) in the quarter, while raising his stake in IBM (IBM).

 

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