The U.S. stock market rose on Monday as oil and copper prices surged. The basic materials and energy sector lead the market in gains.
The broad market also gained on reports of continued improving conditions for U.S. consumers.
The S&P 500 Index is up 5.39 points, or 0.46 percent, to trade at 1,171.98 at 2:49 p.m. EDT. The Dow Jones Industrial Average is up 41.34 points, or 0.38 percent, to trade at 10,891.70.
The Dow Jones U.S. Basic Materials Index is up 1.00 percent and the Dow Jones U.S. Oil & Gas Index is up 1.65 percent.
Freeport-McMoRan Copper & Gold (NYSE:FCX) jumped 4.38 percent and Exxon Mobil (NYSE:XOM) is up 1.13 percent.
NYMEX oil futures are up 2.78 percent and Comex copper futures are up 3.97 percent.
Oil prices rose after a pair of suicide bombings in Moscow's subway system killed dozens of people.
Russian officials suspect that terrorists from the Northern Caucasus are responsible. Oil prices partially rose on fears of further disruptions in Russia, a major oil producer.
Copper prices rose on the expectations of increasing global demand and decreasing stockpiles.
Stockpiles of copper fell 8 percent last week in the Shanghai Futures Exchange and stockpiles in the London Metals Exchange continue to diminish.
U.S. Data & Greece Debt Sale
The Personal Income and Outlays report released by the Bureau of Economic Analysis gave the market a boost.
The report showed that consumer spending increased for the fifth straight month in February. While personal income was flat, it had increased the four previous months.
Greece announced its plans to sell its bonds on the capital markets on Monday. Orders for this issue of bonds has been weak compared to the 16 billion euros orders received for Greece's previous 5 billion euro bond offering.
Greece is selling 5 billion euros worth of 7-year bonds.