After a volatile week of geopolitical risk-induced trading, U.S. equities and stock exchange traded funds surged Monday.
The S&P 500 Index, along with related funds including the SPDR S&P 500 ETF (NYSEARCA: SPY), iShares Core S&P 500 ETF (NYSEARCA: IVV) and Vanguard 500 Index (NYSEARCA: VOO), were 1.0% higher Monday.
U.S. markets slipped last week on rising tensions between North Korea and the U.S., along with a number of lackluster earnings reports. However, the equities market pared most of the losses Monday as some traders attributed the strength to solid corporate earnings, better-than-expected economic data out of Japan and investors repricing the risk associated with North Korea, the Wall Street Journal reports.