US stocks are mostly higher as oil prices keep falling
NEW YORK (AP) — U.S. stocks are rising Monday as clinical trial news gives health care companies a lift and tech and consumer stocks reach annual highs.
Energy companies are tumbling as the price of oil continues to nosedive.
Ionis Pharmaceuticals rose after it said a drug designed to treat spinal muscular atrophy in infants worked in a late-stage clinical study.
Biogen plans to start seeking marketing approval for the drug, nusinersen, in the next few months.
Benchmark U.S. crude lost 90 cents, or 2.2 percent, to $40.70 a barrel in New York while Brent crude, which is used to price international oils, gave up 93 cents, or 2.1 percent, to $42.60 a barrel in London.
Caesars Entertainment said it agreed to sell its social and mobile games business to a Chinese consortium for $4.4 billion.
Fleetmatics makes software that cable companies, energy companies and others use to manage vehicle fleets.
Bond prices fell and the yield on the 10-year U.S. Treasury note rose to 1.49 percent from 1.45 percent, reversing most of a drop in bond yields on Friday.