After a big 2021, Wall Street starts new year edging higher

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Stocks are moving higher on the first trading day of the year, a day after closing out 2021 with big gains for the third year in a row. The S&P 500 rose 0.6%, the Dow Jones Industrial Average rose 0.5% and the Nasdaq rose 1.1%. Smaller company stocks also notched gains. Bond yields rose. Technology companies and banks were among the biggest winners. Electric car maker Tesla rose after reporting strong delivery numbers for 2021. Apple was up 2.5%, moving closer to becoming the first company to hit a market capitalization of $3 trillion.