U.S. consumer sentiment and spending both hit five-month highs heading into the end of the year with the University Michigan's overall index of consumer sentiment jumping to 82.5 in December (the highest reading since July) from 75.1 last month.
A separate report from the Commerce Department showed Consumer Spendingrose 0.5% in November after gaining 0.4% last month. The rise was the seventh consecutive month of increases in consumer spending, which accounts for more than two-thirds of U.S. economic activity.
Market Indices/Statistics:
- Dow closed up 73.47 pts/ +0.45% to 16,294.61; 22 of the 30 Dow stocks closed higher.
- S&P closed up 9.67pts/ +0.53% to 1,827.99; 8 of the 10 S&P 500 sectors closed higher.
- Nasdaq closed up 44.16 pts/ +1.08% to 4,148.90
- Technology was the strongest sector (+1.44%), Utilities were the weakest (-0.32%).
- The VIX is down 0.76 at 13.03
- Gold is down 5.8 to 1197.9
- Oil is down 0.50 to 98.82
- Nat Gas is up 0.064 to 4.517
- Yen vs. Dollar is flat at 104.07
- Euro vs. Dollar is up 0.0025 to 1.3697
- The ICE Dollar Index (USDX) is down 0.13 to 80.42
Top Headlines:
US equity markets will close at 1pm ET on Tuesday, and be closed on Wednesday in observance of the Christmas Holiday.
In a deal that could add billions of dollars to its revenue, Apple Inc (AAPL, $570.09) said it has signed a long-awaited agreement with China Mobile Ltd to sell iPhones through the world's biggest network of mobile phone users. Shares of AAPL boosted the tech space after rising $21.36, or 3.89%.
Shares of Natural gas pipeline operator Regency Energy Partners LP (NYSE:RGP, $26.07) jumped 7.77% on Monday after saying it would buy pipeline and related assets from Eagle Rock Energy Partners (EROC: $5.92) and Hoover Energy Partners for about $1.6 billion. The deals come two months after Regency agreed to buy PVR Partners LP (NYSE: PVR, $26.62) for about $3.8 billion.
