Wall Street opens up slightly by Investing.com

Investing.com – Wall Street shot up in the opening on Monday, as contrasting economic data confirm expectations of a wave of monetary stimulus from central banks, including the Federal Reserve.

The increase was 24 points, or 0.09%, at 9:45 am (1:45 pm GMT), while the rise of four points, or 0.1 percent, and the increase of 12 points, or 0.1 percent.

Fed Chairman Jerome Powell said Friday that the central bank would "do the right thing" to support economic expansion, said most felt they would agree to the need for a further cut interest rates by a quarter point at the Fed's monetary policy meeting this month.

The Fed lowered its federal funds target rate for the first time since 2008 in July, setting a new range of 2% to 2.25%. Bets on another cut increased after Friday's data showed that the US economy had created fewer jobs than expected in August, although wage growth remained strong in a tense labor market.

The European Central Bank is also expected to cut rates later this week.

On the company's news, AT & T (NYSE 🙂 shares jumped 4.9% after activist investor Elliott Management announced it had acquired a $ 3.2 billion stake in the company. The company was targeting a price of over $ 60 by the end of 2021. In a public letter, Elliott clearly described some of AT & T's past transactions, including its expensive acquisitions of Time Warner and DirecTV.

Actions in Fannie Mae (OTC 🙂 jumped after Treasury Secretary Steven Mnuchin said that an agreement would soon put an end to the collapse of the government's profits and allow it to keep its profits. The actions of Freddie Mac (OTC 🙂 were higher at the same news.

Shares of Boeing (NYSE 🙂 fell 1.5% after suspending load tests of its new 777X widebody aircraft over the weekend, while media reports said a cargo door had failed during a ground resistance test.

Far from stocks, the slight decline of 0.1% to 98.23, while the last Treasury yield was trading at 1.61%.

In commodities, they rose $ 2.45, or 0.2%, to $ 1,518.15 troy ounce, while they increased 1.7% to 57, $ 48 a barrel.

–Reuters contributed to this report