US stocks start 2011 higher on economic news

Stocks started 2011 with a big lift on Monday, and that could be a promising sign for the rest of the year. Investors call it the "January barometer." According to the Stock Trader's Almanac, a gain in the Standard and Poor's 500 stock index over the first five days of January has led to annual gains nearly 90 percent of the time. The Dow Jones industrial average rose 93.24 points, or 0.8 percent, to close at 11,670.75. The Standard & Poor's 500 index gained 14.23, or 1.1 percent, to 1,271.87. The Nasdaq composite index rose 38.65, or 1.5 percent, to 2,691.52. — AP