Socks gained on Monday as debt-stricken Greece launched a sovereign bond issue, easing worries about its problems, while investors were hopeful about key jobs data later this week.
Greece returned to capital markets for the first time since euro zone leaders and the International Monetary Fund agreed to provide a financial safety net.
Greece's move is definitely lifting some concerns about the financial condition of the region, but we are not out of the woods yet, and the market can change its direction any time, said Jon Canally, economist at LPL Financial in Boston.
A week of heavy economic data began with U.S. consumer spending, which rose as expected in February for a fifth straight month, while stagnant incomes pushed savings to their lowest level since October 2008, the government reported. The market did not see much movement after the data.
Key labor market data is due Friday, with economists forecasting the economy created about 190,000 jobs in March, but investors will have to be brave enough to bet ahead of the data release since the U.S. stock market will be closed for the Good Friday holiday. Private sector jobs data on Wednesday and jobless claims on Thursday may offer clues.
We started off the morning on a positive note because investors are already pricing in a good jobs report on Friday, Canally said.
The Dow Jones industrial average <.DJI> was up 30.83 points, or 0.28 percent, at 10,881.19. The Standard & Poor's 500 Index <.SPX> gained 3.84 points, or 0.33 percent, at 1,170.43. The Nasdaq Composite Index <.IXIC> rose 10.20 points, or 0.43 percent, at 2,405.33.
The U.S. Treasury said it will sell all of the 7.7 billion Citigroup Inc
Zhejiang Geely Holding Group, China's largest privately run carmaker, has agreed to buy Ford Motor Co's
Oil prices jumped 2.6 percent to top $82 a barrel supported by a weaker dollar and economic optimism. The S&P energy index <.GSPE> rose 1.3 percent, while Exxon Mobil Corp
Apple Inc jumped 0.7 percent to $233.59 after it set a date for the launch of its new iPad tablet computer.
The PHLX semiconductor index <.SOXX> rose 1 percent after Hynix Semiconductor Inc <000660.KS>, the world's No. 2 memory chipmaker, said global memory chip supply remained very tight and stronger-than-expected market conditions would continue into the second quarter.
(Additional Reporting by Emily Flitter; editing by Jeffrey Benkoe)