Wall Street higher on banks, but tech drags Nasdaq

The Dow and S&P 500 rose on Monday after Britain's Barclays buoyed hopes that some stabilization may be returning in banking, but large-cap tech shares weighed on the Nasdaq due to recession worries.

Data showed a gauge of New York State manufacturing slipped to a record low in March, fueling some caution after a four-day run-up in the stock market.

The Dow Jones industrial average <.DJI> gained 63.40 points, or 0.88 percent, to 7,287.38. The Standard & Poor's 500 Index <.SPX> added 8.24 points, or 1.09 percent, to 764.79. The Nasdaq Composite Index <.IXIC> fell 0.48 points, or 0.03 percent, to 1,431.02.