US stock market rallies after French election results

By Ovunc Kutlu

NEW YORK (AA) - The U.S. stock market opened the first trading day of the new week with a rally on Monday, after a centrist candidate finished the first round of France’s presidential election on top.

The Dow added 208 points to begin trading at 20,756 points, and the S&P 500 rose 25 points to open at 2,374 points.

The Nasdaq increased 67 points to start trading at 5,977 points -- a new all-time high for the index.

Centrist independent Emmanuel Macron grabbed 23.75 percent of the French votes to finish the first round ahead of other candidates.

Macron, a 39-year-old former economy minister who has never run for elected office before, is ardently pro-Europe and has embraced a tolerant attitude toward immigrants, refugees, and Muslims.

Analysts said Macron leading the election results calmed investors' worries over a potential breakup of the eurozone or the European Union.

Macron will face far-right leader Marine Le Pen in the May 7 run-off for the French presidency.