NEW YORK: US stocks
ended slightly higher Monday amid hopes that a political deal over the
looming fiscal cliff was in the works.
Markets showed little
effect from the fresh turmoil in the eurozone, after Italian Prime
Minister Mario Monti said he would resign in the coming days and Silvio
Berlusconi threatened a comeback on an anti-austerity platform.
The Dow Jones Industrial Average rose 14.75 points (0.11 percent) to 13,169.88.
The
broad-market S&P 500 added 0.48 (0.03 percent) to 1,418.55, while
the tech-rich Nasdaq Composite rose 8.92 points (0.30 percent) to
2,986.96.
Trade was light and in a narrow range, with
transportation, technology and basic materials shares strongest, while
consumer goods slipped.
Troubled Hewlett-Packard surged 2.6 percent on rumors that raider Carl Icahn was moving on the company.
Canadian
energy firm Nexen added 13.8 percent after Canadian regulators approved
its takeover by Chinese state oil giant CNOOC late Friday.
Excepting
Apple (-0.6 percent), big tech stocks were higher: Facebook 1.3
percent, Google 0.2 percent, Cisco 2.4 percent and STMicroelectronics,
which said it was leaving a joint venture with Ericsson, added 3.4
percent.
Bond prices edged higher. The 10-year US Treasury yield
slipped to 1.62 percent from 1.63 percent late Friday, while the 30-year
fell to 2.80 percent from 2.81 percent.
Bond prices and yields move inversely.
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