US Close 23 May 17: US higher boosted by new defence funding deal and oil

US sharemarkets rose on Monday. Defence stocks were amongst the top gainers after President Trump signed US$110 billion in deals for Saudi Arabia to buy arms from the US with options to buy up to $350 billion in equipment over 10 years. Technology stocks also posted solid gains. The so-called "fear gauge" - the CBOE volatility index or Vix - fell by 9% to 10.96. The Dow Jones rose by 90 points or 0.4% with the S&P 500 index up by 0.5% while the Nasdaq lifted by almost 50 points or 0.8%.

 

CommSec's Juliana Roadley provides a morning financial market update.

 

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