Stocks: Record-high indexes cruise higher

• Dow%2C S%26P 500 close at new highs
• Nasdaq composite index jumped more than 1%25 as Apple share shot up almost 4%25
• Stock indexes in Asia and Europe were up

Major market indexes are continuing their record-setting trend as Wall Street notches new highs Monday at the start of a traditionally light week of trading.

The Dow Jones industrial average rose 73.47 points, or 0.5%, to a record close of 16,294.61. The Standard & Poor's 500 index gained 9.67 points, or 0.5%, to close at at a record 1,827.99. The Nasdaq composite jumped 44.16 points, or 1.1%, to 4,148.90.

Apple jumped $21.07, or 3.8%, to $570.09 after striking a deal to bring the iPhone to China Mobile, the world's largest cell phone carrier.

Darden, which runs Red Lobster and Olive Garden, gained $3.26, or 6.4%, to $54.35 after activist investor Starboard Value took a stake in the company.

Facebook rose $2.88, or 5%, to $58.00 after the social network was added to the S&P 500 index effective Monday. Fund managers who replicate indexes like the S&P 500 are required to purchase stocks in a company when it's added.

The yield on the bellwether 10-year Treasury note rose to 2.93% Monday, up from 2.89% Friday. The yield rose as high as 2.97% on Friday, sparking fears it would break 3%.

Trading volume was very light ahead of the holidays. Investors were encouraged Friday by a report that the U.S. economy grew 4.1% in the third quarter, compared with the previous estimate of 3.6%.

"People want to hold on to these gains, so no one is going to take any undue risks this close to the end of the year," said Stephen Carl, head equity trader at Williams Capital.

The next two weeks, with Christmas and New Year's Day both falling in the middle of the work week, will likely have light trading, he said.

The major European benchmarks were higher, with Britain's FTSE 100 index gaining 1.1% to 6,678.61. Germany's DAX index added 0.9% to (,488.82 and France's CAC 40 index rose 0.5% to 4,215.29.

In Asia, the Nikkei 225 finished up 11.20 points, 0.1%, at 15,870.42, Hong Kong's Hang Seng shot up 109.38 points, or 0.5%, to close at 22,921.56 and Shanghai's Composite index gained 4.91 points, 0.2%, to close at 2,089.71.

Contributing: The Associated Press