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Financials, tech companies lead stocks slightly higher

Trader Kevin Walsh, foreground left, works with specialist

Trader Kevin Walsh, foreground left, works with specialist Jay Woods, right, on the floor of the NYSE, Oct. 12, 2017. Credit: AP

U.S. stocks posted modest gains Monday, extending a record-setting run into a sixth straight week.

Financial and technology companies notched some of the biggest gains. Energy stocks also rose as crude oil prices closed higher. Health care companies declined the most. Bond prices fell.

The three major stock indexes closed at new highs, despite a day of mostly listless trading as investors looked ahead to a slew of company earnings reports over the next few weeks.

“Today is a sort of wait-and-see market as investors are really looking for the direction of earnings and whether companies continue to report strong results,” said Kate Warne, investment strategist at Edward Jones. “That will be a catalyst for stocks to move higher.”

The Standard & Poor’s 500 index added 4.47 points, or 0.2 percent, to 2,557.64. Last week marked the index’s fifth-straight weekly gain.

The Dow Jones industrial average rose 85.24 points, or 0.4 percent, to 22,956.96. The Nasdaq composite gained 18.20 points, or 0.3 percent, to 6,624. The Russell 2000 index of smaller-company stocks inched up 0.02 points to 1,502.68.

Investors bid up shares in banks and technology companies. “Tech and financials are somewhat higher as investors continue to expect good earnings ahead,” Warne said.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.30 percent from 2.27 percent late Friday.

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