Currently, the major averages are posting modest gains, near their highs for the young session. The Dow is up 13.65 points or 0.1% at 16,507.02, the Nasdaq is up 18.61 points or 0.4% at 4,371.24 and the S&P 500 is up 3.53 points or 0.2% at 1,928.68.
The early strength on
Buying interest has also been generated by news that
Nonetheless, trading activity may be somewhat subdued on the day amid the absence of any major US economic data.
Following the slew of economic data that was released last week, the economic calendar for the unfolding week is relatively quiet.
Later in the week, trading may be impacted by the release of reports on service sector activity, international trade, and labor productivity and costs.
A majority of the major sectors have moved to the upside on the day, although most are showing only modest strength in early trading.
Biotechnology stocks are turning in a strong performance, however, with the NYSE Arca Biotechnology Index climbing by 1.2%.
Computer hardware, internet, and housing stocks are also seeing early strength, while utilities stocks have come under considerable selling pressure.
In overseas trading, stock markets across the
The major European markets have also turned mixed on the day. While the German DAX Index has edged down by 0.1%, the
In the bond market, treasuries have moved moderately higher, extending last Friday's strong upward move. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 2.7 basis points at 2.478%.
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