9-9-13 12:42 PM EDT | Email Article
 

By Kate Gibson, MarketWatch

 

NEW YORK (MarketWatch) -- U.S. stocks rose on Monday, with the S&P 500 extending its longest win streak since July, as data showed exports from China exceeding forecasts and Apple Inc. climbed a day ahead of its unveiling of new iPhone models.

 

"China came out with significantly better economic data over the weekend, and that's important to us because the China demand story continues to be a very important piece of the global economic picture," said Art Hogan, market strategist at Lazard Capital Markets.

 

"There's excitement about the Apple product announcement tomorrow, and Apple is one of the largest components of the S&P 500. And volumes are low and participation is still timid, so any moves get exaggerated, very much like we saw in the volatility on Friday," Hogan added of the end-of-week session, which had the Dow Jones Industrial Average (DJI) crossing zero 11 times.

 

After rising 127 points, the Dow industrials on Monday were recently up 120.50 points, or 0.8%, to 15,043, with Caterpillar Inc. (CAT) and Alcoa Inc. (AA) leading gains that included all but two of the blue-chip index's 30 members.

 

Heavy-equipment-maker Caterpillar rose 2.8% and aluminum producer Alcoa gained 2% after Beijing's General Administration of Customs reported Chinese exports rose 7.2% in August from the year-earlier period.

 

The S&P 500 index (SPX) climbed 12.32 points, or 0.7%, to 1,667.49, with materials and information technology pacing sector gains and telecommunications the poorest performing of its 10 major industry groups. The Nasdaq Composite index (RIXF) rose 33.98 points, or 0.9%, to 3,694.98.

 

Apple (AAPL) rose 1.7% before an investor event where the iPhone maker will unveil upgraded versions of its smartphone.

 

Delta Air Lines Inc. (DAL) gained 6.9% after S&P Dow Jones Indices said the carrier would replace BMC Software Inc. (BMC) in the S&P 500.

 

For every stock on the decline, nearly four rose on the New York Stock Exchange, where 236 million shares traded as of 12:30 p.m. Eastern.

 

Composite volume approached 1.4 billion.

 

The thinly traded market comes in a "historically difficult month" for stocks, and follows a trend that had "a significant amount of risk" coming out of equities in August, with the S&P 500 losing 3.1%, noted Hogan.

 

While many Wall Street professionals are back at their desks after summer breaks, the low volume and high volatility is likely to continue "until we get resolution in a lot of the September issues," said Hogan.

 

With Congress back in session, those issues include potential U.S. military strikes against Syria, the budget-debt ceiling and approving a replacement for Federal Reserve Chairman Ben Bernanke, with President Barack Obama expected to nominate someone in coming weeks.

 

Treasury yields fell, with the benchmark 10-year note used in figuring mortgage rates and other consumer loans off four basis points at 2.897%.

 

The dollar fell against the currencies of major U.S. trading partners including the euro (EURUSD) but excluding the Japanese yen (USDJPY).

 

The cost of energy declined, with a barrel of crude (CLV3) priced at $109.36 a barrel, down $1.17, or 1.1%, on the New York Mercantile Exchange. Gold futures(GCZ3) reversed course, falling 80 cents, or 0.1%, to $1,385.70 an ounce.

 

Wall Street on Friday finished higher for the week as reports indicated increased global economic growth even as investors weighed possible U.S. military action in Syria and chances of the Federal Reserve cutting back on its monetary stimulus later in the month.

-Kate Gibson; 415-439-6400; AskNewswires@dowjones.com

 

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


(END) Dow Jones Newswires

09-09-13 1242ET

Copyright (c) 2013 Dow Jones & Company, Inc.
Copyright 2014 MarketWatch
Add a Comment

News   More...

Start Premium Trial Register For Free

P F Fund Financial Data (13,000+ funds)
P F Stock Financial Data (7,000+ stocks)
P F Stock and Fund Screeners (basic)
P F Investing Articles and Market Commentary
P F Articles Archive (>30 days)
P F Discuss (dozens of stock, fund, bond, and general bulletin boards)
P F Portfolio Manager (basic)
P F Morningstar Investment Classroom
P F Access Your Portfolio Anytime, Anywhere via Your Mobile Device
P   Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)
P   Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)
P   Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)
P   Portfolio Monitor (monthly and on-demand personalized portfolio statements)
P   Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)
P   Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters
P   Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)
P   Discounts on Morningstar newsletters, books, seminars, and more

Sign-up to Morningstar


Basic Access

Articles and Videos
Morningstar video reports, articles, data, and tools. Dig into our lineup of e-newsletters and investing classroom courses outlining sensible strategies for maximizing your investments.
Morningstar Discuss
Follow the buzz on individual stocks or fund families. Plus, read the latest posts from Morningstar members and analysts.
Portfolio Manager
Track your investments and watch lists with our Portfolio Manager. Customize your view with our comprehensive stock, fund, and ETF data.

Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.

Unlimited Access

Analyst Research
Gather in-depth, actionable insight on over 3,700 stock and mutual funds covered by Morningstar analysts. View our mutual fund Analyst Reports favored by professionals, savvy experienced investors, and new investors researching options for retirement savings, college plans, or other investment needs.
Portfolio X-Ray®
Ensure your portfolio is positioned exactly how you want with Morningstar's X-Ray Interpreter and Stock Intersection tools. A Barron's "Best of the Web" award winner for five years running, X-Ray Interpreter goes under the hood of your portfolio to provide a useful allocation, sector, and geographic analysis. And you can discover how much of a stock you really own, individually and through mutual funds, with Stock Intersection.
Investment Picks
Find new 5-star stocks (greatly undervalued companies) to consider daily. Our 5-star stock rating is a proven winner, consistently beating benchmarks like the S&P 500. Plus, browse our Fund Analyst Picks and Stewardship Grades to find shareholder-friendly mutual funds that are poised for outperformance.
Portfolio Monitor
Get a clear view of your investments with personalized reports about your portfolio. Receive monthly statements and generate reports on-demand to help you stay on track to meet your investment goals.

Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.

Content Partners
Morningstar - 2013/9/9 - UPDATE: U.S. stock indexes rise as volatility persists
Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol |  Title Star Rating |  Category |  Total Assets |  Top Holdings |  Top Sectors |  Symbol |  Name Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol / Ticker |  Title Star Rating |  Category |  Total Assets |  Symbol / Ticker |  Name Title |  Date |  Author |  Collection |  Popularity |  Interest Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Author |  Collection |  Interest |  Popularity

Previous: UPDATE: U.S. stock indexes ride volatility higher  |  Next: UPDATE: U.S. stock indexes rise on global view