07/03/2005 16:42
Stocks gained early Monday, extending a rally that has lifted the Dow and S&P 500 to their best levels in more than 3-1/2 years.
The Dow Jones industrial average (up 107.52 to 10,940.55, Charts) and the broader Standard & Poor's 500 (up 0.30 to 1,222.42, Charts) index both posted small gains. On Friday, the Dow closed at its highest level since June 12, 2001, and the S&P 500 closed at its highest point since July 3, 2001.
The Nasdaq composite (up 3.24 to 2,073.85, Charts) gained around 0.5 percent early Monday. The tech heavy index, which has lagged the other two majors, remains well below its highs of the year.
Among early stock movers Monday, Boeing (unchanged at $58.38, Research) fell 1.3 percent. The company said Monday that its board had forced its president and CEO to resign due to a relationship the married executive had with a female employee.
In other news, a pair of big deals was announced.
Capital One Financial (unchanged at $78.08, Research) said it will buy Hibernia (unchanged at $26.57, Research) for $5.35 billion. Europe's BAE Systems said it will buy U.S.-based United Defense Industries for $3.97 billion in cash.
A slide in oil prices helped early stock sentiment. U.S. light crude for April delivery fell 48 cents to trade at $53.30 a barrel in electronic trading.
Bond prices rose, lowering the 10-year note yield to 4.31 percent from 4.38 percent late Thursday. Bond prices and yields move in opposite directions.
In currency trading, the dollar rose versus the euro and yen, recovering after a couple of down days.
COMEX gold fell $1.30 to trade at $433.80 an ounce, falling with other dollar-traded commodities after several sessions of gains.
In global trade, Asian-Pacific stocks ended higher, and European shares were mixed at midday.
The Dow Jones industrial average (up 107.52 to 10,940.55, Charts) and the broader Standard & Poor's 500 (up 0.30 to 1,222.42, Charts) index both posted small gains. On Friday, the Dow closed at its highest level since June 12, 2001, and the S&P 500 closed at its highest point since July 3, 2001.
The Nasdaq composite (up 3.24 to 2,073.85, Charts) gained around 0.5 percent early Monday. The tech heavy index, which has lagged the other two majors, remains well below its highs of the year.
Among early stock movers Monday, Boeing (unchanged at $58.38, Research) fell 1.3 percent. The company said Monday that its board had forced its president and CEO to resign due to a relationship the married executive had with a female employee.
In other news, a pair of big deals was announced.
Capital One Financial (unchanged at $78.08, Research) said it will buy Hibernia (unchanged at $26.57, Research) for $5.35 billion. Europe's BAE Systems said it will buy U.S.-based United Defense Industries for $3.97 billion in cash.
A slide in oil prices helped early stock sentiment. U.S. light crude for April delivery fell 48 cents to trade at $53.30 a barrel in electronic trading.
Bond prices rose, lowering the 10-year note yield to 4.31 percent from 4.38 percent late Thursday. Bond prices and yields move in opposite directions.
In currency trading, the dollar rose versus the euro and yen, recovering after a couple of down days.
COMEX gold fell $1.30 to trade at $433.80 an ounce, falling with other dollar-traded commodities after several sessions of gains.
In global trade, Asian-Pacific stocks ended higher, and European shares were mixed at midday.
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