US STOCKS-Wall Street climbs to new highs; transports rally

lunes 10 de noviembre de 2014 14:30 GYT

* Gilead climbs after Merck's hepatitis C drug trial results

* Dow transportation average hits new high

* Cable companies fall after Obama net neutrality statement

* Indexes up: Dow 0.2 pct, S&P 0.2 pct, Nasdaq 0.2 pct (Updates to early afternoon)

By Caroline Valetkevitch

NEW YORK, Nov 10 (Reuters) - U.S. stocks edged higher in afternoon trading on Monday, lifting the Dow and S&P 500 to intraday highs after the indexes advanced for a third straight week, helped by railroad shares.

The Dow Jones transportation average was up 1 percent, also hitting another intraday record high, led by gains in railroad shares including Union Pacific, which was up 1.9 percent and among the top gainers on the S&P 500.

Results late Friday from Berkshire Hathaway showed profit from the BNSF railroad rose about 5 percent. Berkshire Class B shares were up 0.7 percent at $144.59, also among the top gainers in the S&P 500.

Oil prices extended recent losses, with U.S. crude oil prices falling below $78 a barrel, helping shares of some consumer companies.   Continuación...