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Dow posts 140-point advance

By Kate Gibson

NEW YORK: Stocks climbed on Monday, with the S&P 500 extending its longest win streak since July, after Chinese exports beat projections and as investors anticipated the unveiling of Apple Inc.’s new iPhone models today.

The Dow Jones industrial average finished up 140.62 points, or 0.9 percent, at 15,063.12, its best performance in more than eight weeks.

Caterpillar Inc. led gains among Dow components after the Chinese government reported exports rose 7.2 percent in August from the year-earlier period, topping forecasts for a 6 percent rise.

The Standard & Poor’s 500 index climbed 16.54 points, or 1 percent, to 1,671.71. The Nasdaq composite index rose 46.17 points, or 1.3 percent, to 3,706.18.

Apple Inc., a heavyweight on the S&P 500 and Nasdaq, rose 1.6 percent before an investor event where the iPhone maker will unveil upgraded versions of its smartphone.

Treasury yields fell, with the benchmark 10-year note used in figuring mortgage rates and other consumer loans falling to 2.91 percent.

Crude oil ended at $109.52 a barrel, down $1.01, or 0.9 percent. Gold gained 20 cents to $1,386.70 an ounce.

Molex Inc. jumped nearly 32 percent after the manufacturer of electronic components agreed to be purchased for $7.2 billion by Koch Industries Inc., the holding company run by the billionaire Koch brothers.


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