NEW YORK (AP) — Stocks edged mostly higher in early trading on Monday, pushing the Dow Jones industrial further into record territory.
The stock market is extending its gains from Friday, when it got a lift from an unexpectedly strong jobs report. Stocks have surged to record levels this year as the Federal Reserve kept up its economic stimulus and earnings at U.S. companies continued to grow.
The Dow rose 22 points, or 0.1 percent, to 15,784 in the first 45 minutes of trading. The Standard & Poor's 500 index gained 2 points, or 0.1 percent, to 1,772. If the index holds on to its small gain it would also close at a record.
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The Nasdaq composite slipped five points, or 0.1 percent, to 3,914.
Bond markets were closed on Monday in observance of the Veterans Day holiday. The yield on the 10-year Treasury jumped last week to 2.75 percent, the highest in six weeks, after the government reported last month's surge in hiring.
In commodities trading, the price of oil rose 48 cents, or 0.5 percent, to $95.09 a barrel. The price of gold fell $2.50, or 0.2 percent, to $1,282.30 an ounce.
Among stocks making big moves:
— ViroPharma jumped $10, or 26 percent, to $49.42, after the company agreed to be acquired by drugmaker Shire PLC.
— Transocean rose $1.46, or 2.7 percent, to $54.91 after the company said it had agreed to a deal with billionaire investor and minority shareholder Carl Icahn after a months-long proxy fight. The company will pay a $3-a-share dividend and reduce the size of its board.
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