Stocks climb after leading economic indicators rise 1.4 percent; traders await Goldman fallout

Stocks turn higher after leading indicators rise

NEW YORK — Stocks are higher following a jump in the Conference Board’s index of leading economic indicators.

The increase suggests that economic activity will strengthen in the next three to six months. The Conference Board says Monday its leading indicators index has risen 1.4 percent for March. Economists had predicted growth of 0.9 percent.

The market has been trading in a tight range following mixed news about banks. Investors remained concerned about civil fraud charges against Goldman Sachs, but profits at Citigroup were ahead of expectations.

The Dow Jones industrial average is up 26 at 11,046. It had been up 15 ahead of the report. The Standard & Poor’s 500 index is up 2 at 1,194. The Nasdaq composite index is up 2 at 2,484.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.

NEW YORK (AP) — Stocks were mixed Monday morning as investors try to balance continued concerns about civil fraud charges against Goldman Sachs with new earnings that show the economy is improving.

Citigroup Inc. led a fresh round of better-than-expected profit reports, easily topping expectations. The bank benefited from strong trading revenue.

Eli Lilly and Co.’s profit also beat analysts’ expectations.

Asian markets tumbled in their first trading session since the Securities and Exchange Commission brought civil fraud charges Friday against Goldman Sachs Group Inc. World markets are also being dragged down by new measures in China to curb speculative real estate investing.

China said over the weekend it would take more steps to level off real estate prices, which have been rising sharply for months. The government is concerned about speculative bubbles forming and bursting as its economy continues to grow rapidly.

New restrictions might include clamping down on lending to buyers who already own two or more homes. In recent months, China has increased the minimum amount of money banks must hold to slow down lending.

In the U.S., investors are concerned about potential long-term repercussions tied to the charges against Goldman. The civil suit comes just as Congress is taking up a bill to overhaul regulating the financial sector, including risky securities like those at the center of the Goldman case.

In early morning trading, the Dow Jones industrial average rose 5.07, or 0.1 percent, to 11,023.73. The Standard & Poor’s 500 index fell 0.89, or 0.1 percent, to 1,191.24, while the Nasdaq composite index rose 0.25, or less than 0.1 percent, to 2,481.51.