Updated from 4:16 p.m. EDT

The

Dow Jones Industrial Average

came up just short of crossing the 12,000 mark Monday for the first time in its history, but the index still set another all-time closing high.

When trading was done for the day, the Dow had collected a gain of 20.09 points, or 0.17%, to 11,980.60. Of the 30 stocks that make up the industrials, 17 were in positive territory, led by

Alcoa

(AA) - Get Report

and

Exxon Mobil

(XOM) - Get Report

, both up more than 2%.

AT&T

(T) - Get Report

and

Home Depot

(HD) - Get Report

were the primary laggards.

About 2.35 billion shares traded on the

New York Stock Exchange

, and on the Nasdaq 1.88 billion shares changed hands. Winners beat losers roughly 2 to 1.

Meanwhile, the

S&P 500

added 3.43 points, or 0.25%, to 1369.05, and the

Nasdaq Composite

tacked on 6.55 points, or 0.28%, at 2363.84.

Earnings season began in earnest this week, and among the companies with results was

Mattel

(MAT) - Get Report

. The toymaker exceeded analysts' third-quarter earnings estimates and said a stock option probe found errors, but that they weren't material.

Mattel earned $239 million, or 62 cents a share, for the quarter, up from $225 million, or 55 cents a share, a year ago. Sales rose 7% to $1.79 billion. Shares of Mattel gained 2.9% to $21.30.

At

Philips Electronics

(PHG) - Get Report

, profits rose sharply to $5.3 billion following a big gain from the sale of a majority interest in its chip unit. Revenue ticked up to just under $8 billion. Philips slipped 0.9% to $34.71.

To view Gregg Greenberg's video take on today's market, click here

.

Wachovia

(WB) - Get Report

made $1.88 billion, or $1.17 a share, for the latest quarter, up from last year's $1.66 billion, or $1.06 a share. Excluding merger costs, earnings were $1.19 a share, in line with the Thomson Financial estimate. Wachovia fell 2.2% to $55.25.

Specialist firm

LaBranche

(LAB)

reported third-quarter earnings of $7.8 million, or 13 cents a share, down from $9.2 million, or 15 cents a share, a year ago. Revenue rose 50% to $125.4 million. Analysts were looking for earnings of 11 cents a share. The stock dropped nearly 18% to $9.07.

Away from earnings,

Oshkosh

(OSK) - Get Report

said it would acquire building-equipment maker

JLG

(JLG)

for around $3 billion, and

UnitedHealth

(UNH) - Get Report

said William McGuire is stepping down as chairman and chief executive. McGuire left Sunday as chairman, and he will resign from the CEO post by Dec. 1.

On the research front, Goldman Sachs upgraded

Lowes

(LOW) - Get Report

, and ThinkEquity cut its rating and price target on

Amazon.com

(AMZN) - Get Report

.

Prudential initiated coverage of

Dell

(DELL) - Get Report

with an overweight rating, and

Home Depot

(HD) - Get Report

was downgraded at Goldman to neutral from buy.

Crude prices rose $1.37 to $59.94 a barrel following word that OPEC would gather this week to talk about production quotas. Other energy futures were higher.

Treasuries were little changed or slightly higher. The benchmark 10-year note was adding 4/32 in price to yield 4.78%, and the dollar was mixed against other major currencies.

Stocks advanced overseas. London's FTSE 100 was up 0.3% at 6172, and Frankfurt's Xetra DAX added 0.2% to 6187. Tokyo's Nikkei rose 0.9% to 16,693, and Hong Kong's Hang Seng climbed 0.1% to 18,010.