U.S. stocks on Monday started the year's first day of trading higher, with energy shares rising the most as oil topped $80 a barrel. The Dow Jones Industrial Average added 87 points to 10,515. The S&P 500 Index gained 11 points to 1,126, while the Nasdaq Composite Index rose 31 points to 2,300. Within the commodity space, Freeport McMoran is jumping 4%. Chesapeake Energy is jumping 6% after agreeing to sell a gas shale division for $2.5 billion. Chevron is up 2% on a positive Barrons piece. The fertilizer stocks are all performing well. The tech sector is also performing well this morning. IBM, Google, Apple, and Corning are at new 52 week highs. Google was upgraded this morning with a $810 price target. Other techs upgrades this morning include Intel, EMC, Seagate, Western Digital, Microsoft, Oracle, and Atmel. All are trading higher. The financials look good this morning. Morgan Stanley is up 4% on two upgrades. Goldman Sachs continues to perform well. PNC is also higher on an upgrade. In the retail space the upgrades this morning include Tiffanys, American Eagle, Chicos, Gap, AnnTaylor, Ross Stores, and TJX. Tiffanys is up 3%. The rest are modestly lower. After the first hour the Dow jumped 145 points to within a few points of new highs for the last year. The Nasdaq rose 39 points or 1.75%. Through the morning the averages pushed higher. The Dow jumped 160 points to new highs for the last year above 10600. The Nasdaq remained strong. Through the afternoon the averages moved sideways at the highs of the day. The Dow Jones Industrial Average finished up 155 points, or 1.5%, at 10,583. The S&P 500 Index climbed 17 points, or 1.6%, to close at 1,132. The Nasdaq Composite Index rose 39 points, or 1.7%, to 2,308.
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