Tech stocks lead Wall Street higher; GM edges up after brokerage upgrade

Wall Street indexes inched higher on Monday morning, as gains in technology stocks slightly offset a drop in health shares.

With no major US earnings or economic data scheduled this week, trading volumes were expected to thin leading up to Thursday's Thanksgiving holiday and an early close on Friday.

"With earnings season now out of the way, macro news and the prospects of tax reform will basically guide the market," said Peter Cardillo, chief market economist at First Standard Financial in New York.

"I don't expect the market to endure any sharp sell-off or sharp gains (today)."

The US House of Representatives passed their version of a tax bill last week. But the Senate, from which it has already faced resistance, is expected to vote on their version of the bill after Thanksgiving.

Any signs of repositioning ahead of the vote would be liable to impact investors' thinking on the bill.

At 9:39 am ET (1339 GMT), the Dow Jones Industrial Average was up 30.76 points, or 0.13 per cent, at 23,389, the S&P 500 was up 1.67 points, or 0.06 per cent, at 2,580.52 and the Nasdaq Composite was up 9.19 points, or 0.14 per cent, at 6,791.98.
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