By DAMIAN J. TROISE, Associated Press Business Writer
NEW YORK (AP) — Stocks rose in morning trading on Wall Street Monday at the start of what’s expected to be a quiet holiday week.
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The broader market eked out a slight gain last week in what has been a choppy month. Technology companies, especially those focused on artificial intelligence, have been the main force behind the market’s oscillations.
The gains on Monday were broad, with technology companies and banks leading the way. JPMorgan Chase rose 1% and Nvidia rose 1.2%.
Uber rose 3.3% and Lyft rose 5% after announcing plans to bring robotaxi services to London next year.
Gold and silver touched records and oil prices jumped after the U.S. Coast Guard said it was pursuing another sanctioned oil tanker in the Caribbean.
Gold prices rose 1.6% and are hovering around $4,458 per ounce, adding to their consistent gains throughout the year. Silver prices were up about 2.5%.
Crude oil prices in the U.S. rose 2.4% and prices for Brent crude oil, the international standard, rose 2.3%.
Markets in Asia gained ground while markets in Europe slipped.
Markets in the U.S. will close early on Wednesday for Christmas Eve and remain closed on Thursday for Christmas. The short week for trading includes several economic reports that could shed more light on the condition and direction of the U.S. economy.
On Tuesday, the government releases the first of three estimates on gross domestic product, a reflection of how the broader U.S. economy fared in the third quarter. On Wednesday, the Labor Department will release its weekly data on applications for jobless benefits, which stands as a proxy for U.S. layoffs.
The Conference Board offers up results from its December consumer confidence survey on Tuesday as well.
Elaine Kurtenbach and Matt Ott contributed to this story.
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