Updated from 4:03 p.m. EST
Stocks finished modestly higher Monday afternoon, with the Nasdaq setting a new 30-month closing high as investors grew optimistic ahead of major earnings reports from the technology sector due out later in the week.
The Dow rose 26.29 points, or 0.3%, to 10,485.18; the S&P 500 improved 5.37 points, or 0.5%, to 1127.23; and the Nasdaq climbed 24.86 points, or 1.2%, to 2111.78, after the three major indices sold off Friday on the heels of a weak employment report.
Volume on the New York Stock Exchange was 1.43 billion shares, while 2.21 billion shares changed hands on the Nasdaq. Advances beat decliners by about 3 to 2 on both exchanges."I think the upcoming earnings reports are encouraging investors," said Robert Basel, co-head of equity trading at Citigroup. In addition, "as investors analyze Friday's employment report from a longer-term perspective, they like what it means for the rate outlook."