NEW YORK — Stocks rose in quiet trading Monday as investors start to close the books on 2013.
Apple helped lift technology stocks after the company reached a deal to sell the iPhone to China’s largest wireless carrier.
The market has been moving broadly higher since last Wednesday, when the Federal Reserve said it will start pulling back on its stimulus program next month as the U.S. economy improves. Last week the government also raised its estimate for third-quarter economic growth to 4.1 percent, the fastest pace since 2011.
“Everything is going in the right direction,” said Rob Stein, chief executive officer of Chicago-based Astor Investment Management.
The Dow Jones industrial average rose 73.47 points, or 0.5 percent, to 16,294.61. The Standard &Poor’s 500 index was up 9.67 points, or 0.5 percent, to 1,827.99. The Nasdaq composite rose 44.16 points, or 1.1 percent, to 4,148.90.