MARKET SNAPSHOT: S&P 500 Hits Another Record As Stocks Edge Up

By Victor Reklaitis and Sara Sjolin, MarketWatch

NEW YORK (MarketWatch) -- The U.S. stock market edged higher in late-morning action Monday, as stocks from the hard-hit energy sector helped lift the S&P 500 to a fresh intraday record.

But renewed worries about Greece appeared to keep gains limited, as that country's failed presidential election sparked worries about its relationship with its international creditors.

The S&P 500 (SPX) was last up 3.80 points, or 0.2%, to 2,092.57 after briefly hitting a new intraday peak above 2,093.

The Dow Jones Industrial Average (DJI) rose 7 points, or less than 0.1%, to 18,061. The blue-chip gauge is trying to build on a seven-session winning streak.

The Nasdaq Composite (RIXF) gained 5 points, or 0.1%, to 4,812.

Trading is expected to be light in this holiday-shortened week, as it was Friday, when composite volume was its lowest for the year so far. Even so, both the S&P and Dow on Friday closed at records, while the Nasdaq ended at its highest level since March 2000. Several analysts have said equities could move even higher before New Year's Eve and kick off 2015 in style. Read: Stocks to stay buoyant into the New Year

Movers and shakers:Energy-related stocks such as Denbury Resources Inc. (DNR) and Nabors Industries Ltd. (NBR) were among the S&P 500's top performers as oil recovered somewhat from its recent slide. The energy SPDR (XLE), an ETF that tracks the S&P 500's energy stocks, remains down about 9% for the year, but it established at least a short-term bottom in mid-December. Check out: Energy stocks may be starting to attract bargain hunters

Gilead Sciences Inc. (GILD) was also among the S&P's best performers as Morgan Stanley upgraded it to overweight and Barron's picked the stock as one of its 10 favorites for 2015.

Shares of Manitowoc Co. (MTW) jumped after activist investor Carl Icahn disclosed a 7.8% stake in the company and indicated he wants to split the crane and food-service businesses. (Read more in the Movers & Shakers column http://www.marketwatch.com/story/airasia-airbus-shares-in-focus-after-missing-jet-2014-12-28.)

Greek drama: The global trading mood on Monday was dented by renewed uncertainty about the political landscape in Greece. The country's parliament rejected Prime Minister Antonis Samaras's candidate in a third and final presidential vote, meaning parliament will now have to be dissolved and a snap election held.

The far-left, euroskeptic party Syriza is forecast to win that election, bringing back concerns that Greece would end its international bailout program or even leave the eurozone. Greece's ATHEX Composite index tumbled after the failed vote, while the pan-European Stoxx Europe 600 index and the Global X FTSE Greece 20 ETF (GREK) both slumped.

Other markets: Crude-oil futures (CLG5)advanced Monday after reports of a fire at storage terminals at a Libyan oil terminal.

Gold futures moved lower, while the dollar gained ground on the euro in the wake of Greece's election news.

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