US stocks march higher, shaking off worst week in three months; Citigroup gains on settlement

  • Article by: THE ASSOCIATED PRESS , Associated Press
  • Updated: July 14, 2014 - 9:05 AM

Stocks are up sharply in early trading as the market shakes off its worst weekly performance in three months.

Citigroup rose after the bank turned in better results than Wall Street expected and said it had reached a settlement in an investigation into its mortgage business.

The Dow Jones industrial average rose 126 points, or 0.7 percent, to 17,071 in the first few minutes of trading Monday.

The Standard & Poor's 500 index rose 10 points, or 0.6 percent, to 1,978. The Nasdaq composite rose 25 points, or 0.6 percent, to 4,440.

Mylan rose 3 percent after the company said it will buy Abbott Laboratories' generic-drug business

Bond prices fell. The yield on the 10-year Treasury note edged up to 2.53 percent.

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