Markets Right Now: Tech, industrials lead US stocks higher

The latest on developments in financial markets (All times local):

11:45 a.m.

Stocks are moving modestly higher in midday trading as technology and industrial companies make gains.

Retailers were also in the winning column Monday as investors hoped that shoppers would be spending more this holiday season.

Drugmakers and other health care companies are trading lower.

Chipmaker Cavium jumped 9 per cent after agreeing to be acquired by Marvell Technology.

Energy stocks continued to lag the market. The price of oil was down about 1 per cent.

The Standard & Poor’s 500 index was up 3 points, or 0.1 per cent, to 2,582.

The Dow Jones industrial average rose 92 points, or 0.4 per cent, to 23,448. The Nasdaq composite rose 5 points, or 0.1 per cent, to 6,788.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.37 per cent.

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9:35 a.m.

Stocks are opening slightly higher on Wall Street, led by gains in technology and industrial companies.

Chipmaker Cavium jumped 8.6 per cent early Monday after agreeing to be acquired by Marvell Technology.

Energy stocks continued to lag the market. The price of oil was down about 1 per cent.

The Standard & Poor’s 500 index was up 2 points, or 0.1 per cent, to 2,580. The index is coming off its second straight weekly loss.

The Dow Jones industrial average rose 32 points, or 0.1 per cent, to 23,390. The Nasdaq rose 10 points, or 0.2 per cent, to 6,787.