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Financial Markets 12/22 09:34
NEW YORK (AP) -- Stocks rose in morning trading on Wall Street Monday at the
start of what's expected to be a quiet holiday week.
The S&P 500 rose 0.4% and is just below the all-time high it set earlier
this month. The Dow Jones Industrial Average rose 130 points, or 0.3%, as of
10:03 a.m. Eastern time. The Nasdaq composite climbed 0.6%.
The broader market eked out a slight gain last week in what has been a
choppy month. Technology companies, especially those focused on artificial
intelligence, have been the main force behind the market's oscillations.
The gains on Monday were broad, with technology companies and banks leading
the way. JPMorgan Chase rose 1% and Nvidia rose 1.2%.
Uber rose 3.3% and Lyft rose 5% after announcing plans to bring robotaxi
services to London next year.
Gold and silver touched records and oil prices jumped after the U.S. Coast
Guard said it was pursuing another sanctioned oil tanker in the Caribbean.
Gold prices rose 1.6% and are hovering around $4,458 per ounce, adding to
their consistent gains throughout the year. Silver prices were up about 2.5%.
Crude oil prices in the U.S. rose 2.4% and prices for Brent crude oil, the
international standard, rose 2.3%.
Markets in Asia gained ground while markets in Europe slipped.
Markets in the U.S. will close early on Wednesday for Christmas Eve and
remain closed on Thursday for Christmas. The short week for trading includes
several economic reports that could shed more light on the condition and
direction of the U.S. economy.
On Tuesday, the government releases the first of three estimates on gross
domestic product, a reflection of how the broader U.S. economy fared in the
third quarter. On Wednesday, the Labor Department will release its weekly data
on applications for jobless benefits, which stands as a proxy for U.S. layoffs.
The Conference Board offers up results from its December consumer confidence
survey on Tuesday as well.
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Elaine Kurtenbach and Matt Ott contributed to this story.
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