Dow Edges Higher but Falls Short of 20000

Features Dow Jones Newswires

U.S. stocks rose Tuesday, led by gains in technology shares.

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Trading volumes have dwindled and stocks have moved in a narrow range around the holiday period. Still, the Dow Jones Industrial Average has extended a postelection rally that has lifted it nearly 9% since Nov. 8 and brought its 2016 gain to roughly 15%.

On Tuesday, shares were up broadly in the U.S. The Dow industrials added 11 points, or less than 0.1%, to 19945, boosted by a 0.6% jump in Apple. The S&P 500 gained 0.2%, and the tech-heavy Nasdaq Composite rose 0.5%.

The S&P 500 tech sector rose 0.5%, led by Nvidia, which added 6.9%. The chipmaker, whose shares are on track to rise for a 10th consecutive session, is up about 250% for the year.

Elsewhere, the Stoxx Europe 600 rose 0.1% and shares in Asia were mixed.

Bank shares were among the worst performers in Europe on an otherwise quiet day. The Stoxx Europe 600 Banks Index fell 0.2% after the European Central Bank expressed fresh concerns about the future of ailing Italian lender Banca Monte dei Paschi di Siena.

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Monte dei Paschi has a much bigger hole in its balance sheet than previously calculated, the ECB said Monday, meaning the Italian government will have to ramp up the amount it will have to deploy to rescue the lender.

In currencies, the dollar rose slightly, extending a postelection rally that has brought it to a 14-year high.

The dollar has strengthened in recent weeks on bets of higher inflation and rising rates, which make it more attractive to yield-seeking investors. On Tuesday, the WSJ Dollar Index, which measures the dollar against a basket of 16 currencies, added 0.1%.

U.S. government bonds resumed their postelection slide.

The yield on the 10-year U.S. Treasury note edged higher to 2.563%, near a two-year high, from 2.542%, according to Tradeweb. Yields rise as prices fall.

Earlier, Japan's Nikkei Stock Average rose less than 0.1%, snapping a three-day losing streak, while the Shanghai Composite Index fell 0.3%. Markets in Australia and Hong Kong were closed Tuesday.

Write to Natascha Divac at and Akane Otani at