U.S. stock-index benchmarks edged higher early Monday, but continuing turmoil in Turkey remained in focus.
The Dow Jones Industrial Average traded up 43 points to reach 25,352,a gain of 0.2%, the S&P 500 index rose 5 points to 2,838, a rise of 0.2%. Meanwhile, the Nasdaq Composite Index added 0.2% to reach 7,861. U.S. investors have kept their attention trained on developments in Turkey.
The Turkish central bank pledged to provide "all the liquidity the banks need" in a statement Monday, coming after Turkey's lira lost 14% of its value against the dollar on Friday, raising concerns that the emerging market could infect European financial institutions and other developed-world markets. However, market participants in the U.S. appear poised to shake off those worries to focus on what has been a healthy stretch of corporate quarterly results and a domestic economy that has offered signs of strength.
Source : Marketwatch