WASHINGTON (dpa-AFX) - Stocks are seeing modest strength during trading on
Monday, adding to the substantial gains posted last week. The major averages
have all moved to the upside on the day, although buying interest has been
somewhat subdued.

Currently, the Dow is up 75.63 points or 0.2 percent at 38,315.29, the Nasdaq is
up 42.80 points or 0.3 percent at 15,970.70 and the S&P 500 is up 12.53 points
or 0.3 percent at 5,112.49.

The modest strength on Wall Street comes as stocks continue to benefit from the
upward momentum seen last week, which came amid a positive reaction to upbeat
tech earnings.

Shares of Tesla (TSLA) have skyrocketed by 12.3 percent after the electric
vehicle maker said local Chinese authorities removed restrictions on its cars,

Overall trading activity is somewhat subdued, however, as traders look ahead to
the Federal Reserve's monetary policy announcement on Wednesday.

The Fed is widely expected to leave interest rates unchanged, but the
accompanying statement and Fed Chair Jerome Powell's post-meeting press
conference may shed additional light on the outlook for rates.

Recent economic data has tamped down expectations of a near-term rate cut, with
the central bank now seen as likely to leave rates unchanged until at least
September.

Traders may also be sticking to the sidelines ahead of the release of an
avalanche of earnings news this week along with the Labor Department's closely
watched monthly jobs report.

Sector News

Telecom stocks have shown a significant move to the upside on the day, driving
the NYSE Arca North American Telecom Index up by 1.6 percent.

Considerable strength is also visible among biotechnology stocks, as reflected
by the 1.4 percent gain being posted by the NYSE Arca Biotechnology Index.

Utilities, networking and tobacco stocks are also seeing notable strength, while
most of the other major sectors are showing more modest moves.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region moved mostly
higher on Monday, with the Japanese markets closed for a holiday. China's
Shanghai Composite Index climbed by 0.8 percent, while Hong Kong's Hang Seng
Index rose by 0.5 percent.

Meanwhile, the major European markets are turning in a mixed performance on the
day. While the U.K.'s FTSE 100 Index is up by 0.2 percent, the German DAX Index
is down by 0.1 percent and the French CAC 40 Index is down by 0.2 percent.

In the bond market, treasuries are extending the rebound seen last Friday.
Subsequently, the yield on the benchmark ten-year note, which moves opposite of
its price, is down by 4.1 basis points at 4.628 percent.



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