US stocks rise as fiscal cliff looms

US stocks were higher Monday two weeks before the world's biggest economy could go off the "fiscal cliff."

The Dow Jones Industrial Average was up 55.09 points (0.42 percent) at 13,190.10 just under 90 minutes after the markets opened.

The broad-market S&P 500 rose 8.24 points (0.58 percent) to 1,421.82, while the tech-rich Nasdaq Composite gained 12.64 points (0.43 percent) at 2,983.97

Stocks climbed despite the New York Federal Reserve reporting that its Empire State manufacturing survey, measuring conditions in the New York region, fell for a fifth straight month in December, with both new orders and shipments lower.

"Despite the US fiscal cliff remaining unresolved and a disappointing read on regional manufacturing activity, the domestic equity markets are gaining ground," said analysts with Charles Schwab & Co.

Traders continued to fret about a series of tax increases and spending cuts set to take effect in January if Washington fails to reach a deal to avert the so-called fiscal cliff, which economists warn could take the United States into recession.

"If nothing else, the market has not given up on the idea of a compromise being reached," said Patrick O'Hare of Briefing.com.

Apple was down 0.9 percent. The tech giant announced Sunday that it had sold more than two million of the new iPhone 5 in China during the smartphone's first weekend in stores there.

Still, Canaccord Genuity slightly lowered its price target for Apple shares, citing softer sales expectations internationally.

American International Group (AIG) was up 1.7 percent. The insurance giant, bailed out by Washington during the financial crisis, said it would sell its remaining stake in Asian insurer AIA, in a deal that could raise up to $6.5 billion.

Sprint Nextel fell 0.1 percent after announcing that it would boost its offer for shares in Clearwater Corp. to $2.97 per share from $2.90. Clearwire dropped 13.4 percent.

On Friday, the Dow lost 0.27 percent, the S&P 500 fell 0.41 percent, while the Nasdaq shed 0.70 percent.

Monday's bond prices fell. The 10-year US Treasury yield rose to 1.72 from 1.71 percent late Friday, while the 30-year increased to 2.88 percent from 2.87 percent.

Bond prices and yields move inversely.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
  • New law makes insurance companies find, pay beneficiaries Associated Press - 7 minutes ago

    Insurance companies will be required to locate beneficiaries of unclaimed life insurance policies in Illinois and pay them money they're owed under legislation that Gov. Bruce Rauner signed into law on ... … More »

  • Deals of the day-Mergers and acquisitions Reuters - 12 minutes ago

    (Adds Alere, Fiat Chrysler; updates Rackspace) Aug 26 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday: ** Cloud services provider Rackspace Hosting ... … More »

  • Dollar gains, U.S. stocks fall as Fed shakes 'complacent' markets
    Dollar gains, U.S. stocks fall as Fed shakes 'complacent' markets Reuters - 13 minutes ago

    U.S. stocks gave up early gains in choppy trading on Friday, hurt by a surging U.S. dollar as investors grappled with the possible timing of an interest rate hike after comments from several Federal Reserve officials, including Chair Janet Yellen. … More »

  • Oil prices edge up but OPEC giants downplay output limits AFP - 17 minutes ago

    Oil prices edged higher Friday but the market remained weak as OPEC's key producers cast doubt on the possibility of cutting output. Iranian Oil Minister Bijan Zanganeh on Friday said his country wanted ... … More »

  • Canada, hoping to boost profile, pledges peacekeepers to UN
    Canada, hoping to boost profile, pledges peacekeepers to UN AFP News - 20 minutes ago

    Canadian Prime Minister Justin Trudeau's government on Friday committed 600 troops and Can$450 million (US$350 million) over three years to United Nations peacekeeping operations around the world. Touted by the Liberal administration as a … More »

  • Grain lower, livestock mixed Associated Press - 30 minutes ago

    Grain futures were lower Friday on the Chicago Board of Trade. Wheat for Sept. declined 17.75 cents at $3.8350 a bushel; Sept. corn lost 7.25 cents to 3.1625 a bushel; Sept. oats was fell 3.75 cents at ... … More »

  • Canada PM Trudeau to mount charm offensive in China: officials
    Canada PM Trudeau to mount charm offensive in China: officials AFP News - 35 minutes ago

    Canadian Prime Minister Justin Trudeau will tour the Great Wall, shoot hoops with retired basketball star Yao Ming and meet with women entrepreneurs when he travels to China next week to bolster trade and diplomatic ties, his office said Friday. … More »

  • Oil steady in volatile session, down 2 percent for the week
    Oil steady in volatile session, down 2 percent for the week Reuters - 38 minutes ago

    Oil prices were largely unchanged on Friday in a volatile session, as traders reacted to comments from Fed Chair Janet Yellen and reports of missile activity in Saudi Arabia. The market was taking its cues from the movement in the dollar, which has … More »

  • Wall St. falls after Fischer, Yellen comments
    Wall St. falls after Fischer, Yellen comments Reuters - 1 hour 25 minutes ago

    U.S. stocks were lower in a choppy session on Friday, with stocks bouncing between gains and losses as investors grappled with the possible timing of a U.S. interest rate hike after comments from Federal Reserve officials, including Chair Janet … More »

  • Stocks slip into losses in the afternoon after Yellen speech
    Stocks slip into losses in the afternoon after Yellen speech Associated Press - 1 hour 31 minutes ago

    Stocks were lower on Wall Street in afternoon trading on Friday, giving up modest gains following a generally upbeat assessment of the economy from Fed Chair Janet Yellen. Phone companies and utilities, ... … More »

  • Dutch PM Mark Rutte announces third-term candidacy
    Dutch PM Mark Rutte announces third-term candidacy AFP News - 1 hour 31 minutes ago

    Prime Minister Mark Rutte announced Friday his candidacy to head the Dutch government for a third succesive term in office, as the countdown moves towards next year's parliamentary polls. "Rutte also informed his top party leadership about his … More »

  • Morales sees 'conspiracy' in Bolivia minister's murder
    Morales sees 'conspiracy' in Bolivia minister's murder AFP News - 1 hour 56 minutes ago

    Bolivian President Evo Morales said Friday there was a "political conspiracy" against his government after protesting miners allegedly kidnapped, tortured and beat to death a deputy minister who tried to negotiate with them. Defense Minister Reymi … More »

  • Yellen's case for rate hike boosts dollar; stocks surrender gains
    Yellen's case for rate hike boosts dollar; stocks surrender gains Reuters - 2 hours 24 minutes ago

    U.S. equities gave up early gains on Friday, hurt by a surging U.S. dollar after Federal Reserve Chair Janet Yellen said that the case for raising U.S. interest rates has strengthened in recent months. European stocks advanced, however, while oil … More »

  • 11 Turkish police killed in PKK suicide bombing
    11 Turkish police killed in PKK suicide bombing AFP News - 2 hours 47 minutes ago

    The outlawed Kurdistan Workers' Party (PKK) on Friday claimed a suicide truck bombing on a police building in Turkey's southeast that killed 11 officers and wounded dozens more. The blast came two days after the Turkish army launched an offensive … More »

  • Stada shareholder AOC says wants board change not break up
    Stada shareholder AOC says wants board change not break up Reuters - 2 hours 53 minutes ago

    Stada shareholder Active Ownership Capital (AOC) is looking to replace most of the German drugmaker's supervisory board on Friday but has no desire to break up the 120-year-old company, one of its founding partners said. AOC wants to replace six of … More »

  • Upbeat Yellen sees markets stir, but Dow drifts
    Upbeat Yellen sees markets stir, but Dow drifts AFP News - 3 hours ago

    European stock markets stirred Friday at the end of a tranquil week as Federal Reserve chief Janet Yellen indicated there was a case for raising US interest rates. Market watchers had been waiting for Yellen to show her hand in an address to an … More »

  • British economy escapes Brexit blow, for now
    British economy escapes Brexit blow, for now Reuters - 3 hours ago

    Britain's high streets are heaving with shoppers despite June's shock vote to leave the European Union, big companies have reported few signs of distress and some tabloid newspapers are even talking about a post-Brexit economic boom. The … More »

  • RUBBER-Tokyo futures prices after evening session Aug 26 Reuters - 3 hours ago

    Following are prices for Tokyo rubber futures at the end of the Tokyo market's evening session on Aug 2016. Contract Day Volume Evening Volume * Aug 154.1 13 153.9 3 * Sep 155.6 41 156.5 66 * Oct 151.8 ... … More »

  • TABLE-INDONESIA KPB NUSANTARA PALM OIL PRICES - Aug 26 Reuters - 3 hours ago

    Aug 26 (Reuters) - Following are Indonesian prices for crude palm oil (CPO) quoted at an auction by PT KPB Nusantara (formerly known as the state marketing centre) on Monday. Buyer Volume Price Terms (tonnes) ... … More »

  • Google hires Airbnb exec to commercialize self-driving cars Reuters - 3 hours ago

    Alphabet Inc's Google self-driving car project took a step closer to market with the hire of a top executive from Airbnb, the online vacation home rental marketplace. Shaun Stewart is joining Google as a director of the self-driving car project, … More »

  • Global Economy Weekahead - U.S. jobs data to test case for rate hike
    Global Economy Weekahead - U.S. jobs data to test case for rate hike Reuters - 3 hours ago

    U.S. jobs data top economic readouts from around the world next week as global markets begin to return to business as usual following a typically quiet August with the calm broken on Friday by comments from Federal Reserve Chair Janet Yellen. … More »

  • FTSE gains after Yellen comments, Glencore rallies
    FTSE gains after Yellen comments, Glencore rallies Reuters - 3 hours ago

    Britain's top share index rose on Friday after Federal Reserve Chair Janet Yellen indicated that a U.S. interest rate rise could come later this year, a relief for investors after last week's hawkish comments from some Fed policymakers. The blue … More »

  • Tribe trucks totem pole 4,800 miles in fossil fuels protest
    Tribe trucks totem pole 4,800 miles in fossil fuels protest Associated Press - 3 hours ago

    A Pacific Northwest tribe is traveling nearly 5,000 miles across Canada and the United States with a 22-foot-tall totem pole on a flatbed truck in a symbolic journey meant to galvanize opposition to fossil ... … More »

  • AXA prevails after U.S. trial on excessive fund fees Reuters - 3 hours ago

    U.S. District Judge Peter Sheridan in Trenton, New Jersey, said late Thursday that the investors did not show that AXA breached its fiduciary duties by keeping most fees charged for mutual fund investments and back-office duties, while remitting … More »

  • Markets Right Now: Stocks slip on Wall Street Associated Press - 3 hours ago

    The latest on developments in global financial markets (all times local): 11:55 a.m. Stocks were mostly lower on Wall Street at midday, giving up a modest gain following a generally upbeat assessment of ... … More »

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.129+0.001+0.78%
    N21.SI
    1.855-0.040-2.11%
    MC0.SI
    2.84+0.02+0.71%
    C52.SI
    4.22-0.05-1.17%
    Z74.SI
    0.58-0.01-1.69%
    5TP.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.29+0.08+38.10%
    5VI.SI
    0.36+0.07+22.03%
    BPF.SI
    0.192+0.030+18.52%
    AYD.SI
    0.27+0.04+17.39%
    BLU.SI
    0.40+0.05+14.29%
    BFK.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.205-0.055-21.15%
    BTJ.SI
    0.34-0.06-15.00%
    BCD.SI
    0.39-0.06-13.33%
    AYB.SI
    0.31-0.04-11.43%
    5VP.SI
    0.24-0.02-9.43%
    BAZ.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3594+0.0063+0.47%
    USDSGD=X
    1.5220-0.0047-0.31%
    EURSGD=X
    1.7848+0.0005+0.03%
    GBPSGD=X
    74.9160+0.671+0.90%
    SGDJPY=X
    5.7045-0.0237-0.41%
    SGDHKD=X
    2.9614-0.0026-0.09%
    SGDMYR=X
    9,748.8359-69.749-0.71%
    SGDIDR=X
    4.9052-0.0151-0.31%
    SGDCNY=X
    1.0276-0.003-0.29%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,324.10-0.50-0.04%
    GCZ16.CMX
    18.61+0.12+0.65%
    SIU16.CMX
    95.80-0.72-0.74%
    ^XAU
    2.080.00+0.07%
    HGU16.CMX
    47.330.000.00%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.24+0.08
    ^FVX
    1.63+0.06
    ^TNX
    2.30+0.03
    ^TYX