Stocks extend their gains in early going
NEW YORK -- Stocks extended their rally Monday .
This week brings a number of key economic reports, chief among them the April employment report on Friday. Investors are hoping the data will provide further validation that the economy is beginning to heal.
"It's going to be hard for the market to commit before they see the results of the (bank) stress tests (due Thursday) and the unemployment figures on Friday," said Keith Wirtz, president and chief investment officer at Fifth Third Asset Management in Cincinnati.
Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, dipped to 3.14% from 3.16% late Friday. The yield on the three-month T-bill, considered one of the safest investments, inched up to 0.15% from 0.14% late Friday.
The dollar was mostly higher against other major currencies, while gold prices rose.
Light, sweet crude fell 32 cents to $52.88 a barrel in electronic trading on the New York Mercantile Exchange.
Overseas, Hong Kong's Hang Seng index jumped 5.5%. In late morning trading, Germany's DAX rose 1.8% and France's CAC-40 gained 1.2%. Markets in Japan and London are closed for holidays.
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