FM:CC - Stocks Rise in Hope of Building on Friday Rally
Stocks rose Monday as investors tried to build on a sharp rally from the previous session.
The Dow Jones Industrials surged 173.67 points to open Monday at 33,804.28.
The S&P 500 points took on 39.61 points, or 1%, to 3,934.69.
The NASDAQ Composite Index leaped 189.21 points, or 1.8%, to 10,758.51.
That follows a winning week for the three major indexes, with the Dow and S&P 500 posting their best weeks since November. A chunk of those gains came Friday, with the Dow rallying 700 points, while the S&P 500 gathere3d 2.3% and NASDAQ advanced 2.6%. Those gains were spurred by the latest batch of economic data released Friday.
Investors will watch for consumer expectations and consumer credit data coming later in the day. They will also watch for December's consumer price index report coming Thursday and big bank earnings scheduled for Friday.
Prices for the 10-year Treasury sagged, raising yields to 3.58% from Friday's 3.56%. Treasury prices and yields move in opposite directions.
Oil prices gathered $2.28 to $76.05 U.S. a barrel.
Gold prices climbed $10.90 to $1,880.60 U.S. an ounce.