Investors this week will also be closely watching the results of the two-day U.S. Federal Reserve meeting, starting Tuesday, for clues on when interest rates could be hiked. At 11:33 a.m. EDT (1533 GMT) the Dow Jones industrial average was up 49.88 points, or 0.28 percent, at 18,130.02, the S&P 500 was up 3.6 points, or 0.17 percent, at 2,121.29 and the Nasdaq Composite was up 8.71 points, or 0.17 percent, at 5,100.80.
(Reuters) - Google Inc said it would launch an experimental portal that allows interested patent holders to sell their patents to the company. Patent holders can tell Google about the patents they're willing to sell and the expected price through the portal, the company said on its blog. Google said it will let the submitters know of its interest in buying their patents by June 26 and expects to pay the sellers by late August.
Financial firm Markit said its "flash," or preliminary, reading of its Purchasing Managers Index for the services sector slipped to 57.8 in April from a final reading of 59.2 in March, which had been the highest level since August. Markit's April reading of employment at service companies, meanwhile, rose to a 10-month high of 55.4 from March's 54.0. Last week, Markit in its flash reading of U.S. manufacturing activity said the goods-producing sector's growth fell in April by the most in six months, although it remained solidly in expansion territory.