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US stocks score small gains

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US stocks have ended modestly higher as investors appeared to take a breather in a semi-holiday session after Friday’s strong rally on the back of encouraging jobs data.

The Dow Jones Industrial Average gained 21.32 points (0.14 per cent) at 15,783.10, striking a second consecutive record high.

The broad-based S&P 500 Index edged up 1.28 (0.07 per cent) to 1,771.89, while the tech-rich Nasdaq Composite rose a scant 0.56 (0.01 per cent) to 3,919.79.

Trading volume was thinner than usual because of the Veterans Day holiday. The bond market was closed and there was no major economic news.

IBM led the Dow gainers, up 1.6 per cent, while Boeing was the biggest laggard, down 0.7 per cent.

Investment firm KKR dropped 1.5 per cent after announcing it would buy landscaping company The Brickman Group for $US1.6 billion ($A1.71 billion).

Twitter recovered earlier losses to gain 3.0 per cent at $US42.90 ($A45.84), well above last week’s IPO price of $US26 ($A27.78) a share.

Amazon advanced 1.2 per cent. The online retail giant announced it has struck a partnership with the US Postal Service for delivery of its packages on Sundays.

Electronics retailer chain Best Buy jumped 4.5 per cent after a UBS upgrade as the company restructures and cuts costs.

Wal-Mart, which reports third-quarter earnings Thursday before the market opens, added 1.4 per cent. Department store giant Macy’s jumped 1.9 per cent.

Soft-drinks giant PepsiCo lost 0.5 per cent after announcing it would invest more than $US5 billion ($A5.34 billion) by 2020 in India to boost production. Dow member Coca-Cola, which last year said it would spend $US5 billion ($A5.34 billion) in India over the next seven years, also fell 0.5 per cent.

“Good employment data from Friday is helping the retail sector, one of the strongest today,” said Michael James of investment firm Wedbush Securities.

ExxonMobil, another Dow blue chip, rose 0.3 per cent on an Argus Research upgrade.

Concho Resources, a Texas oil producer, bounced 2.1 per cent higher after unveiling an accelerated three-year growth plan, winning an upgrade to “buy” from Canaccord Genuity.

Monday’s subdued action followed a roller-coaster ride last week that left the Dow at a record high and the S&P 500 within a hair of a record on Friday, buoyed by stronger than expected jobs growth in October.