The US markets edged higher on Monday, giving the Dow Jones Industrial Average its 35th record close this year, as market got a lift from encouraging Chinese economic reports that came out over the weekend. Bond traders had a holiday on Monday on account of Veterans Day, and there also were no economic reports from the US government. Investors have started eyeing retailer earnings reports to gauge the strength of consumer demand and the likelihood of cuts to monetary stimulus. Besides, the Fed will remain in focus throughout the week. Investors will be watching for clues about future monetary policy when Janet Yellen, vice chair of the central bank, testifies Thursday at her confirmation hearing on Capitol Hill.
The Dow Jones Industrial Average added 21.32 points or 0.14 percent to 15,783.10, the S&P 500 was up 1.28 points or 0.07 percent to 1,771.89, while Nasdaq gained 0.56 points or 0.01 percent to 3,919.79.
Indian ADRs closed mostly in red on Monday; Tata Motors was down 1.49%, ICICI Bank was down 0.70%, Infosys was down by 0.45% and HDFC Bank was down 0.43%. On the other hand, Dr. Reddy’s Lab was up 0.08%.
