Stocks start higher on Wall Street, led again by technology

Stocks are starting modestly higher on Wall Street Thursday, led once again by gains in the technology sector. The S&P 500 index rose 0.5 per cent in the first few minutes of trading. IBM jumped 9 per cent after saying it would spin off a division focusing on infrastructure services.

Small-company stocks rose more than the rest of the market, as did other stocks that stood to benefit from a recovering economy. Crude oil prices rose. Investment management company Eaton Vance soared 46 per cent after agreeing to be acquired by Morgan Stanley. European markets were also higher and Asian markets closed mostly higher.