US stocks rise on ‘positive momentum’

<p>Positive momentum is forcing US stocks higher.</p>

US stocks were up over the course of Monday (March 4th) as positive momentum was witnessed within the market.

Randy Bateman, chief investment officer of Huntington Asset Management in Columbus, Ohio, told Reuters that the "only game in town" for those seeking yield is stocks.

"A pullback could happen at any time, but there are also so many people re-entering the market on dips that I wouldn't be surprised to see a new high on the Dow sometime this month," he said.

The Dow Jones industrial average .DJI rose 30.28 points or 0.21 per cent yesterday to close at 14,119.94, while the S&P 500 .SPX gained 5.24 points, or 0.35 per cent, to finish the day at 1,523.44. The Nasdaq Composite .IXIC added 8.5 points, or 0.27 per cent, to 3,178.24, to round off a good day for the markets.

David Song, currency analyst at DailyFX in New York, suggested political instability in the euro area – particularly in Italy – may continue to drag on the exchange rate in the coming weeks.

The results are a turnaround from US futures yesterday, when the Dow was down 17 points and the Nasdaq by 12.75 points.

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