Forex - Dollar remains broadly higher in subdued trade

At 9:37 a.m. ET (1337 GMT), the Dow Jones Industrial Average.DJI was up 172.84 points, or 0.79 percent, at 21,970.63 and the S&P 500.SPX was up 17.64 points, or 0.72 percent, at 2,479.07.

Also boosting pharma stocks was Teva (TEVA.N), which jumped 13 percent after naming a new chief executive.

With Federal Reserve speakers now in a blackout period before next week's policy meeting, the focus this week remains on assessing the impact of natural disasters on US growth and data due on retail spending in the American economy. It's caused severe flooding and knocked out power to millions, but the storm weakened shortly before it came ashore.

Other insurers, especially the ones with exposure to Florida, also gained. Among them, Marinus Pharma (MRNS.O) surged about 56 percent and Idera Pharma (IDRA.O) gained about 16 percent. Eight of the index's 10 main groups advanced. Travel-related companies rose as investors felt their businesses won't take such a big hit.

Wall Street opened higher, with the Dow climbing 0.8 percent in the first minute of trading. The contract skidded $1.61, or 3.3 percent, to settle at $47.48 a barrel on Friday. Futures had risen to $1.54 a pound Friday from $1.30 at the end of August and slipped to $1.52 a pound on Monday.


The announcement that the U.S. would call for a Monday vote on sanctions came at the start of North Korea's Foundation Day, the anniversary of the reclusive nation's 1948 founding, on Saturday.

The dollar retraced some of last week's decline against major peers as worries surrounding North Korea and hurricane Irma eased.

The dollar index, which tracks the United States unit against a basket of six major currencies, was 0.2% higher at 92.51, after skidding to a 2-1/2 year low of 91.011 on Friday. The price of gold fell $11.80 to $1,339.40 an ounce. Those companies tend to do better when bond yields are falling, as investors see them as an alternative to bonds due to their large dividend payments. In corporate news, investors awaited the debut of Apple Inc.'s new iPhone 8 on Tuesday. Microsoft added 63 cents to $74.61 and Mastercard rose $2.73, or 2 percent, to $139.95.

CURRENCIES: The dollar strengthened as the latest developments gave traders less reason to flee to the yen, traditionally considered a haven. The euro fell 0.7% against the greenback, paring some of last week's gains, to trade at $1.1953. With electronic card sales accounting for around two-thirds of retail sales, the RBNZ will be taking a close look at the numbers and the possible effects on the economy over the near-term, with the key being whether consumer confidence continues to remain positive, supported by relatively stable household income, softer consumer prices coming off the back of a bounce in the Kiwi Dollar and continued weakness in crude oil prices.

The technology sector.SPLRCT jumped 1.46 percent.


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