Wall Street Drifts Higher in Quiet Action


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U.S. equity markets climbed mildly Monday after a big rally in the last session as traders mulled a smattering of corporate news.

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Today's Markets

As of 3:30 p.m. ET, the Dow Jones Industrial Average (INDEXDJX:DJI) climbed 3 points, or 0.02%, to 16023, the S&P 500 advanced 2.2 points, or 0.12%, to 1807 and the Nasdaq Composite (NASDAQ:IXIC) edged up by 1.7 points, or 0.04%, to 4064.

The S&P 500 (INDEXSP:GSPC) spiked 1.1% in its biggest jump since November 8 on Friday as traders cheered a considerably better-than-expected jobs report, but continued feeling fairly confident the Federal Reserve won't begin tapering its vast bond-purchasing program until next year. The broad-market average has had a bullish year, soaring close to 27% on a year-to-date basis.

There are no major economic reports due out on Monday, meaning traders might spend time mulling what the Fed's next move is going to be.

"Attention will likely focus today on the handful of FOMC members who will be speaking ahead of the blackout period that begins tomorrow," analysts at Nomura wrote in a note to clients.

In corporate news, McDonald's (NYSE:MCD) shares fell after the world's biggest burger chain reported weaker-than-expected November sales figures.

In commodities, U.S. crude oil prices climbed 12 cents, or 0.12%, to $97.77 a barrel. The benchmark contract is up for seven sessions in a row -- its longest winning streak since 2012. Wholesale New York Harbor gasoline rose 0.01% to $2.7282. Gold edged higher by 60 cents, or 0.05%, to $1,230 a troy ounce.

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