US stocks edged higher in early trade on Monday, reversing course after a retreat on Friday.

Gains in telecoms and tech firms offset losses in energy shares, which were pulled lower by a fall in oil prices.

The Dow Jones climbed 42.5 points, or 0.2%, to 23,400.6, while the wider S&P 500 added just one point to 2,580.25. The Nasdaq rose 4.8 points to 6,787.7.

US indexes are hovering near all-time highs, after the resurgence of global growth has boosted corporate earnings.

However, trading is expected to be light this week, as the US earnings season winds down and attention turns to the Thanksgiving holiday.

Shares in internet retail giant Alibaba rose 1.6% after it announced it had bought a a major stake in Chinese hypermarket group Sun Art for $2.9bn (£2.2bn).

(BBC)