Stocks Edge Higher in Early Trading on Wall Street

By: Associated Press
By: Associated Press

NEW YORK (AP) -- Stocks are higher in early trading as traders were encouraged by signs of progress in budget talks and a prediction of steady economic growth next year.

The Dow Jones industrial average rose 42 points to 13,177 shortly after the opening bell Monday. The Standard & Poor's 500 index rose six to 1,419 and the Nasdaq rose 14 to 2,985.

A survey of business economists released by the National Association for Business Economics shows that most believe modest growth will continue next year, led by rising demand for housing. The group expects growth of 2.1 percent following 2.2 percent growth in 2012.

Clearwire slid 11 percent to $2.98 after Sprint announced terms of its buyout deal for the wireless Internet access company. Sprint's price was below Clearwire's closing stock price Friday.

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