NEW YORK (AP) – U.S. stocks are higher Monday morning as technology and consumer-focused companies trade higher. Both industries would benefit if U.S. economic growth picks up in the New Year. Bond yields are slipping, which is giving a lift to real estate investment trusts, which pay large dividends. Energy companies are slipping with the price of oil.
KEEPING SCORE: The Dow Jones industrial average rose 33 points, or 0.2 percent, to 19,875 as of 9:53 a.m. Eastern time. The Standard & Poor’s 500 index gained 5 points, or 0.2 percent, to 2,263. The Nasdaq composite added 23 points, or 0.4 percent, to 5,459. The Dow has risen for six weeks in a row, although last week’s move was small. The S&P 500 and Nasdaq both slipped last week.
EARLY LEADERS: Microsoft added 63 cents, or 1 percent, to $62.93 and Texas Instruments advanced 71 cents, or 1 percent, to $73.60. Boeing added $2.09, or 1.4 percent, to $156.59. United Technologies picked up $1.64, or 1.5 percent, to $110.16 as industrial companies moved up. The sector is at all-time highs as analysts hope for consistently stronger economic growth, based in part on some of President-elect Donald Trump’s infrastructure spending proposals.
GOING ROGUE: Disney led consumer-focused companies higher after “Rogue One: A Star Wars Story” brought in an estimated $155 million in ticket sales in its first weekend. That was better than expected and the second-best December opening ever, after “Star Wars: The Force Awakens” last year. Disney climbed $2.18, or 2.1 percent, to $106.09.
BONDS: Bond prices rose. The yield on the 10-year Treasury note slid to 2.55 percent from 2.60 percent late Friday. Banks traded lower, as reduced bond yields are linked to lower interest rates.