US STOCKS-Wall St up on central bank bets, deals support

lunes 24 de noviembre de 2014 16:19 GYT
 

* United Tech, energy weigh on blue chips

* Apple at a record, nears $700 bln market cap

* Verizon down after Citi downgrade, AT&T follows

* Dow flat, S&P up 0.2 pct, Nasdaq up 0.75 pct (Updates prices)

By Rodrigo Campos

NEW YORK, Nov 24 (Reuters) - U.S. stocks rose on Monday on hopes that China will take further accommodative monetary policy action, while merger deals kept traders focused even as volumes were below average.

Energy shares weighed, with declines in Exxon and Chevron keeping the Dow industrials flat while the S&P 500 energy sector was down 1 percent. U.S. crude and Brent fell ahead of an OPEC meeting later this week.

Also weighing on the Dow, United Technologies Corp fell 1.4 percent to $108.74. Chief Executive Officer Louis Chenevert retired and is being replaced by the company's finance chief in an abrupt change that caught Wall Street off guard.

However, the bullish catalyst was expectation that central banks will continue to boost equities. Following last week's surprise rate cut, China's leadership and central bank are ready to cut interest rates again and also to loosen lending restrictions.   Continuación...