Stocks edge higher at beginning of holiday week

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Associated Press

Posted on December 23, 2013 at 10:00 AM

Updated Monday, Dec 23 at 10:07 AM

NEW YORK (AP) — Stocks are higher in early trading on Wall Street at the beginning of a holiday-shortened week.

Apple is up 3 percent after striking a deal to bring the iPhone to China Mobile, the world's largest cell phone carrier.

Darden Restaurants, which runs Red Lobster and Olive Garden, rose 3 percent after activist investor Starboard Value took a stake in the company.

The Dow Jones industrial average rose 82 points, or 0.5 percent, to 16,303 points in early trading Monday.

The Standard & Poor's 500 index was up nine points, or 0.5 percent, to 1,828. The Nasdaq composite rose 31 points, 0.8 percent, to 4,136.

The stock market will be closed Wednesday for Christmas.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.92 percent.

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