Banks Lead Stock Indexes Slightly Higher
NEW YORK (AP) — Stocks eked out modest gains on Wall Street, enough to push the S&P 500 and Nasdaq indexes a bit further into record territory.
Banks and communications companies did the best Monday, offsetting weakness in retailers and high-dividend companies like real estate and utilities.
Bank of America rose 1.4% and Facebook added 1.7%. Simon Property Group fell 1.6%.
Occidental Petroleum fell 1.9% after Anadarko said it would consider Occidental's buyout offer. Anadarko has already accepted a rival bid from Chevron.
The S&P 500 index rose 3 points, or 0.1%, to 2,943.
The Dow Jones Industrial Average rose 11 points, less than 0.1%, to 26,554. The Nasdaq climbed 15 points, or 0.2%, to 8,161.
Bond prices fell. The yield on the 10-year Treasury rose to 2.53%.