U.S. stocks closed slightly higher in low volume trade Monday, steadying after five straight weeks of gains, with telecommunications and health care stocks leading.
"I think investors get the sense, even with disappointing news, the general trend is up," said Bruce McCain, chief investment strategist at Key Private Bank.
As of the close, trade volume was on track for the lowest of the year so far.
Telecommunications and health care led S&P 500 advancers, while materials and energy lagged. Boeing and Nike were the top contributors to gains on the Dow Jones industrial average, while Chevron, Goldman Sachs and Walt Disney were the greatest contributors to declines.
The Nasdaq composite outperformed slightly as Gilead Sciences and Microsoft gained. The iShares Nasdaq Biotechnology ETF (IBB) closed about 2 percent higher. Apple gained more than half a percent before erasing gains to end a touch lower after its product event, at which it unveiled a 4-inch iPhone.
Dow Jones Industrial Average increased 0.12% to 17,623.87
Reference: CNBC
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