U.S. stocks rose on Monday as energy shares climbed along with the price of oil, and Microsoft Corp boosted the tech sector after several brokerages raised their price targets on the company.
Dow components Exxon Mobil Corp
The S&P energy index <.GSPE> gained 2 percent, benefiting as crude oil futures rose 1.1 percent to above $81 a barrel and the U.S. dollar slipped.
Tech(s) have the wind at their backs right now, said Alan Lancz, president at Alan B. Lancz & Associates Inc in Toledo, Ohio.
If you get an economic recovery like analysts are projecting, that's only going to bode even better for expectations. The momentum is definitely in areas like tech and even some other areas where we've seen strength, like materials.
The Dow Jones industrial average <.DJI> gained 89.93 points, or 0.90 percent, to 10,062.11. The Standard & Poor's 500 Index <.SPX> gained 11.12 points, or 1.03 percent, to 1,090.72. The Nasdaq Composite Index <.IXIC> gained 27.91 points, or 1.30 percent, to 2,182.38.
Declining stocks included Fifth Third Bancorp
(Editing by Padraic Cassidy)