US Stock Markets Led by Technology Stocks …


Stocks advanced Monday, led by a continued rebound in technology stocks, as the broad market extended last week’s gains.The rally came on the lowest trading volume of the year, however, as investors awaited a raft of corporate earnings reports due out this week.

The Dow Jones Industrial Average rose 41 points, or 0.2%, to 16449. The S&P 500 index gained seven points, or 0.4%, to 1872. The Nasdaq Composite Index added 26 points, or 0.6%, to 4122.
The gains mark the latest leg in a recent rally for stocks, capping a five-session winning streak for the S&P 500, its longest since Oct. 22. The Nasdaq’s five-day rally is the longest since Feb. 18.

The advance has offered relief for investors rattled by the recent turbulence in highflying social-media and technology stocks. Such stocks were among Monday’s biggest gainers, while more defensive sectors such as utilities and consumer staples lagged behind.
Traders, however, cautioned that market activity was exceptionally light given the dearth of corporate earnings and economic reports and the closure of markets in Europe.

Investors said they were looking ahead to earnings updates later in the week for more meaningful cues on market direction, and many say they remain concerned about the recent slowdown in corporate profits.

Although stocks have seen more turbulence this year following last year’s 30% gain in the S&P 500, most major indexes remain close to record highs. Many highflying growth stocks in the technology sector have been hammered in recent weeks, but the S&P 500 index is up 1.3% so far this year and is just 1% from its record high of 1890.90 reached April 2.

The yield on the 10-year Treasury note slipped to 2.719%, from 2.721% late Thursday.Gold futures fell 0.4% to $1,288.00 an ounce, after settling Thursday at a two-week low. Crude-oil futures rose 0.1% to $104.37 a barrel. The dollar edged up against the yen and the euro.
Asian markets were mostly lower. China’s Shanghai Composite slid 1.5%, after the China Securities Regulatory Commission late Friday disclosed a list of 28 companies planning initial public offerings.

Corrections & Amplifications

Gold futures fell 0.4% to $1,288 an ounce. A previous version of this article misstated the decline as 0.7% to $1,283.80 an ounce.

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