* S&P energy hits 16-month high as oil jumps 4.2 pct
* Facebook surges on $6 bln buyback news; Apple rises
* Tyson Foods slumps on profit miss, CEO departure
* Indexes up: Dow 0.28 pct, S&P 0.56 pct, Nasdaq 0.66 pct
(Updates to early afternoon)
By Yashaswini Swamynathan
Nov 21 The Dow, S&P 500 and the Nasdaq hit
record intraday highs on Monday as Apple and Facebook propelled
technology shares and oil prices boosted energy stocks.
While all the three major indexes have rallied since the
U.S. election, technology stocks had held back the S&P and
Nasdaq as investors poured money into sectors such as
financials, industrials and energy, which are seen benefiting
from President-elect Donald Trump's policies.
Oil prices jumped 4.2 percent to a near three-week high on
hopes that the OPEC would agree to an output cut next week and
the dollar index's first drop in 11 days.
The energy sector surged 1.8 percent to a 16-month
high, dominating the gainers among the 11 major S&P sectors.
Chevron and Exxon rose 1 percent each and were
the top influences.
The technology index, which had dropped 0.4
percent since the election, was up 0.44 percent, boosted by
Apple's 1.6 percent gain.
Facebook rose 3.3 percent after the company announced
a $6 billion share buyback program.
A spate of tech deals also boosted sentiment in the sector
and the broader market.
"I think the (post-election rally) is continuing today but
the volumes are very low. This is holiday trading and there is
no conviction in the move and it's already fading," said Phil
Davis, chief executive of PSW Investments.
At 12:54 p.m. ET (1728 GMT) the Dow Jones Industrial Average
was up 0.40 percent at 18,944.29. It hit an intraday high
The S&P 500 was up 0.68 percent at 2,196.67, after
touching a high of 2,196.98.
The Nasdaq Composite 0.78 percent at 5,363.07,
easing after a record of 5,363.82.
Among other tech gainers was LifeLock, which surged
15.2 percent after Symantec said it would buy the
identity theft protection company for $2.3 billion. Symantec
rose 4.7 percent.
Applied Micro Circuits jumped nearly 12 percent
after Macom Tech said it would buy its fellow chipmaker
for $770 million. Macom was off 4.1 percent.
Tyson Foods' 14.7 percent slump led the losers on
the S&P after the meat processor reported a lower-than-expected
profit and said its CEO would step down.
Advancing issues outnumbered decliners on the NYSE by 2,130
to 769. On the Nasdaq, 1,429 issues rose and 1,324 fell.
The S&P 500 index showed 34 new 52-week highs and three new
lows, while the Nasdaq recorded 188 new highs and 13 new lows.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by