U.S. stocks were drifting higher in midday trading Monday but with little energy on a day with no major economic data nor significant earnings out. The Dow and S&P 500 were slightly higher while the Nasdaq rose 0.5%, led by Netflix (NFLX) and Apple (AAPL). General Electric (GE) was backing off from explosive gains seen on Friday. The blue-chip had soared more than 10% after announcing plans to sell billions in real estate assets and approving a $50 billion repurchase program. Sears (SHLD) jumped around 2% after the retailer unveiled a real estate joint venture with mall owner Simon Property Group (SPG). Builders FirstSource (BLDR) surged on deal news.
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