U.S. stocks moved slightly higher in early trading Monday, holding up better than many expected in the wake of the terrorist attacks in Paris. European markets shook off an early loss and were mixed in afternoon trading there.
KEEPING SCORE: The Dow Jones industrial average rose 39 points, or 0.2 percent, to 17,285 as of 10 a.m. Eastern Time. The Standard & Poor’s 500 index gained five points, or 0.3 percent, to 2,028. The Nasdaq composite added less than one point to 4,928. The U.S. stock market is coming off its biggest weekly loss since August.
MARKET IMPACT: Friday’s attacks in Paris, which killed 129 people, make it even more likely that the European Central Bank will expand its stimulus program at the conclusion of its December meeting, analysts said. The attacks also drove speculation that the Federal Reserve could hold off on raising rates next month.
“At this juncture, it is easy to see that the Fed’s intentions to ‘normalize’ monetary policy could be derailed by a combination of adverse domestic economic and external events,” said Neil MacKinnon, global macro strategist at VTB Capital.
SECTOR VIEW: Eight of the 10 sectors in the S&P 500 index rose, led by consumer staples, a category that includes Coca-Cola and household products maker Procter & Gamble.