U.S. stocks rose on Monday, buoyed by investor optimism over the strength of earnings season at the beginning of a busy week for corporate results.
Gannett Co Inc
Diversified manufacturer Eaton Corp
Earnings season heats up this week, with 13 Dow components and 135 S&P 500 companies set to report.
Through last Friday, 61 companies in the S&P 500 have reported earnings, with 79 percent of results above analysts' expectations, according to data compiled by Thomson Reuters.
Analysts are especially looking at revenue growth to support expectations the economy is stabilizing after the last two quarters were characterized by cost cutting.
You had some decent momentum last week. Now it's a matter of let's see if we can keep the ball rolling, and this week is critical for that, said Kurt Brunner, portfolio manager at Swarthmore Group in Philadelphia.
The Dow Jones industrial average <.DJI> rose 80.26 points, or 0.80 percent, to 10,076.17. The Standard & Poor's 500 Index <.SPX> gained 7.19 points, or 0.66 percent, to 1,094.87. The Nasdaq Composite Index <.IXIC> added 9.10 points, or 0.42 percent, to 2,165.90.
Toymaker Hasbro Inc
The Nasdaq lagged the other indexes, weighed down by Apple Inc
(Editing by Jeffrey Benkoe)