Stocks gained ground on Monday after data showed sales of new single-family homes rebounded in June from the prior month's record low.

Markets also got a lift from FedEx Corp after the bellwether raised its earnings outlook, sending its stock up more than 4 percent. For details, see

The Dow Jones industrial average <.DJI> gained 53.21 points, or 0.51 percent, to 10,477.83. The Standard & Poor's 500 Index <.SPX> gained 6.41 points, or 0.58 percent, to 1,109.07. The Nasdaq Composite Index <.IXIC> added 10.09 points, or 0.44 percent, to 2,279.56.

(Reporting by Leah Schnurr; Editing by Padraic Cassidy)