By Geoffrey Smith
Investing.com — U.S. stock markets opened higher on Monday, recovering just under half their losses from Friday’s session as the pressure eased on hedge funds to liquidate long positions to relieve the stress from their money-losing short positions.
The spectacular short squeeze in a handful of heavily-shorted stocks had triggered broad selling across the market as funds were forced to raise liquidity last week. While the squeeze continued in some names in early trading, it appeared to have eased in others, causing them to give up some of last week’s gains.
By 9:35 AM ET (1435 GMT), the was up 231 points, or 0.8%, at 30,214 points. The was up 0.9% and the outperformed with a gain of 1.3%.
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