The Dow Jones industrial average was up 73.69 or 0.65 percent to 11,362.23 in late-morning trading. The Nasdaq composite index saw a 16.15 point increase or 0.72 percent to 2,261.53 while the Standard and Poor's 500 was up 5.22 or 0.41 percent to 1,268.12.

The price for a barrel of crude oil was $143.14 during Monday morning trading on the New York Mercantile Exchange after posting a record $145.27 a barrel to close out last week.

The three indexes finished last week on positive notes in abbreviated trading because of the July 4 holiday Friday.

The U.S. Treasury 10-year note was yielding 3.97.

The dollar was trading 1.5668 against the euro Monday, compared to 1.5699 last week. Against the yen, the dollar was at 107.46, compared to 106.77 previously.

In Japan, the Nikkei 225 Stock Average closed up 0.9 percent at 13,360.04.

S. Korean auto unions plan work stoppage SEOUL, July 7 (UPI) -- The union of South Korea's largest automaker says it will stage a second strike in less than a week to protest resumption of U.S. beef imports.

About 44,000 union workers at all three Hyundai Motor Corp. in South Korea said they plan to walk off their jobs for four hours Thursday to protest the country's pro-business government policies, Yonhap reported Monday.

Hyundai's union will join a broader action taken by the Korea Metal Workers Union, the umbrella labor group that includes South Korean automakers' unions. The metalworkers union says it will coordinate one-day protests to demand the government renegotiation quarantine terms for U.S. beef imports to address concerns about mad cow disease, Yonhap said.

Union leaders told Yonhap Kia Motors Corp. and SsangYong Motor Co. will participate in Thursday's strikes.

South Korean government official said the planned work stoppages are illegal because they aren't directly related to pay or work conditions, Yonhap said.

Laid-off Toronto autoworkers picket TORONTO, July 7 (UPI) -- Some 150 Toronto-area autoworkers laid off last week from a bankrupt plastic molding company were ignoring a court order Monday to end a blockade.

The group set up the blockade Friday at Progressive Moulding Products Ltd., a day after the company announced it was under bankruptcy protection and selling off its manufacturing equipment to meet debts, the Toronto Sun reported.

Sunday, a judge issued an order to dismantle the blockade, saying car manufacturers would lose millions of dollars per hour if there was a production delay because of the protest.

York Regional Police, northwest of Toronto in Concord said they were trying to assist both sides in negotiations but no physical attempt to break up the blockade had been made by Monday morning, the report said.

General Motors' announcement of four plant closures in Canada, Mexico and the United States set off a number of small Canadian suppliers shuttering their businesses.

InBev files notice to fire A-B board BRUSSELS, July 7 (UPI) -- Belgian brewer InBev said Monday it would remove the entire Anheuser-Busch board as part of its $46 billion hostile takeover bid for the U.S. brewing giant.

InBev said in a statement from Brussels it would file a preliminary consent solicitation statement with the U.S. Securities and Exchange Commission to remove the board of directors, The New York Times reported.

InBev, maker of Stella Artois, Beck's and Brahma beers, offered of $65 a share June 11 for Anheuser-Busch, maker of the U.S. version of Budweiser. The deal would have created the world's biggest beer company.

Anheuser-Busch rejected the proposal, announcing a massive reorganization to increase profits and cut up to $1 billion in costs.

Once a record date is set for the consent solicitation, Anheuser-Busch will have 10 days to respond, the Times said. A majority of the brewer's shareholders would have to approve the proposal.

The Belgian company said Anheuser-Busch has been unwilling to discuss a takeover.

As such, InBev believes it is time to take action to ensure Anheuser-Busch shareholders are provided the opportunity to have a direct voice in the process and a say in the future direction of the company, InBev said.

Story Source: United Press International