Wall Street edges up in choppy day, swayed by Europe
Stocks closed a volatile, lightly traded session slightly higher on Monday, with sentiment continuing to shift depending on the latest headline from Europe.
The Dow Jones industrial average was up 85.07 points, or 0.71 percent, at 12,068.31. The Standard & Poor's 500 Index was up 7.88 points, or 0.63 percent, at 1,261.11. The Nasdaq Composite Index was up 9.10 points, or 0.34 percent, at 2,695.25.
European stocks fell in choppy trading driven by political turmoil in debt-laden Italy, where bond yields hit euro era highs, though equities pared losses on hopes Prime Minister Silvio Berlusconi was about to resign.
Berlusconi defied huge pressure to resign, as political instability in the euro zone's third-biggest economy prompted investors to flee riskier assets.
The FTSEurofirst 300 index of top European shares fell 0.6 percent to a provisional close of 974.03 points, having been down almost 2 percent in early trade.
European stocks also fell in choppy trading driven by political turmoil in debt-laden Italy.
The FTSEurofirst 300 index of top European shares fell 0.6 percent to a provisional close of 974.03 points, having been down almost 2 percent in early trade.
The Nikkei share average also, succumbing to profit-taking with investors edgy about political developments in Greece and Italy and their potential to exacerbate debt woes in Europe.The Nikkei fell 0.4% to 8767.09, giving up some gains after a rise of almost 2% on Friday but was holding above its 25-day moving average of 8,737, which is seen as a support.
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