The S&P 500 rose Monday as traders combed through the latest batch of corporate earnings results, searching for clues on the health of corporate America.
The Dow Jones Industrials recovered from its losses and vaulted 100.71 points to end the week's first session at 33,987.18.
The much broader index regained 13.68 points Monday to 4,151.32.
The NASDAQ soared 34.26 points to 12,157.72.
Earnings season pressed on with results from State Street and Charles Schwab before the bell. Schwab shares, which have come under pressure amid fears that the brokerage firm may suffer a similar fate to Silicon Valley Bank, rose 3.9% on a profit beat despite a decline in deposits. State Street fell 9.2% after missing estimates on the top and bottom lines.
Wall Street is closely monitoring the health of financial names this earnings period after Silicon Valley Bank's collapse last month spurred a liquidity crisis and rocked the broader sector.
Elsewhere, the S&P's communication services sector slumped 1.3%, led to the downside by declines from tech giants Alphabet, Netflix and Meta Platforms. The Google parent company fell 2.8% as The New York Times reported that Samsung is weighing making Bing its default search engine.
Corporate earnings got off to a positive start last week as banking giants Wells Fargo and JPMorgan Chase beat expectations. The findings seemed to suggest that behemoths are holding up against mounting recession fears.
The reporting period for financial companies presses on with results from Bank of America, Goldman Sachs and Morgan Stanley. Outside of financials, reports from electric vehicle heavyweight Tesla, IBM and Netflix are also due out.
Prices for the 10-year Treasury docked some of their strength, raising yields to 3.60% from Friday's 3.51%. Treasury prices and yields move in opposite directions.
Oil prices sank $1.57 to $80.95 U.S. a barrel.
Gold prices backtracked $7.50 to $2,008.30 U.S. an ounce.