Market gains, however, capped as investors reluctant to make more significant moves ahead of the Federal Reserve's monetary policy meeting next week. The Fed is likely to leave interest rates unchanged but could announce plans to begin scaling back its asset purchase program.
At the close of trade, the Dow Jones Industrial Average index advanced 64.13 points, or 0.18%, to 35,741.15. The S&P500 index added 21.58 points, or 0.47%, to 4,566.48. The tech-heavy Nasdaq Composite Index gained 136.51 points, or 0.9%, to 15,226.71.
Total volume turnover on U.S. exchanges stood at 10.06 billion shares, up from yesterday's 9.93 billion shares. Rising stocks outnumbered declining ones on the NYSE exchange by 2123 to 1246 and 120 closed unchanged. In the NASDAQ, 2962 issues advanced, 1680 issues declined, and 192 issues unchanged.
Total 9 of 11 sectors ended up along with the S&P500 index, with consumer discretionary (up 2.1%) was best performing sector, followed by energy (up 1.4%) and materials (up 0.9%), while utilities (down 0.4%) was worst performing sector, followed by financials (down 0.16%).
This week, 165 components of the S&P 500 are expected to post quarterly results. Facebook, General Electric, UPS, Alphabet, Coca-Cola, General Motors, McDonald's, Ford, Amazon, Apple, and Exxon Mobil are just a few of the companies due to report their results in the coming days. As of the close on Monday, 84% of the 117 companies in the S&P 500 that have reported earnings beat expectations.
Shares of Telsa advanced to all time highs and hitting a $1 trillion market capitalization for the first time after car rental firm Hertz had placed an order for 100,000 Tesla's electric car for its fleet.
PayPal shares saw significant strength after the payments company scrapped plans to buy the digital pinboard site Pinterest Inc for as much as $45bn. Shares of Pinterest slumped on the news.
Shares of Kimberly-Clark closed down after consumer products company reported weaker than expected third quarter earnings and cut its 2021 profit outlook due to higher input costs.
CURRENCY NEWS: The dollar index, which measures the greenback against six currencies, was up 0.2% at 93.812.
COMMODITY NEWS: Crude oil prices rose by up to 0.5% on Monday as traders fretted about tight global supplies. The Brent crude price rose by US46 cents or 0.5% to US$85.99 a barrel. And the US Nymex crude price was unchanged at US$83.76 a barrel.
Among Indian ADR, Dr Reddys Labs added 0.67% to $61.73, Vedanta added 1.06% to $17.11, WNS Holdings rose 0.18% to $84.73, and ICICI Bank added 9.9% to $21.87. Wipro fell 2.5% to $9.28, INFOSYS fell 0.35% to $22.93, HDFC Bank shed 1.1% to $76.68, and Tata Motors fell 0.2% to $32.20.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
