Stocks snap higher in early trading; Citigroup up - KAUZ-TV: Newschannel 6 Now | Wichita Falls, TX

Stocks snap higher in early trading; Citigroup up

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(AP Photo/Mark Lennihan, File). FILE - This July 15, 2013 file photo shows the New York Stock Exchange in New York. (AP Photo/Mark Lennihan, File). FILE - This July 15, 2013 file photo shows the New York Stock Exchange in New York.
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By The Associated Press

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.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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