US stocks close higher as turbulence fades

Staff Writer
Columbus CEO

NEW YORK (AP) — U.S. stocks are closing with modest gains following last week's turbulence.

All three main stock indexes ended higher.

The Standard & Poor's 500 rose 17 points, or 0.9 percent, to 1,904 Monday. The Nasdaq rose 57 points, or 1.4 percent, to 4,316.

The Dow Jones industrial average eked out a gain after spending most of the day in the red. The Dow was held back by a sharp decline in IBM, which reported disappointing results. The Dow ended up 19 points, or 0.1 percent, at 16,399.

Sears jumped 23 percent after saying it would raise cash and had signed a leasing deal with the European fashion retailer Primark.

Bond prices didn't move much. The yield on the 10-year Treasury note was flat at 2.19 percent.