Stocks higher; investors still optimistic
Stocks closed broadly higher on Wall Street Monday, reflecting investor optimism that the economy can continue its turnaround despite all the challenges ahead of it.
Technology companies accounted for a big slice of the gains, which helped to push the Nasdaq to another all-time high. Only utilities lagged. Dealmaking lifted shares of Uber and Berkshire Hathaway.
Treasury yields climbed after data showed improvements in the U.S. and Europe.
The S&P 500 rose 49.71 points, or 1.6%, to 3,179.72.
The Dow Jones Industrial Average gained 459.67 points, or 1.8%, to 26,287.03.
The Nasdaq climbed 226.02 points, or 2.2%, to 10,433.65, a record.
The Russell 2000 index of small company stocks added 11.02 points, or 0.8%, to 1,442.88.
Wheat for July was off .50 cent at 4.8950 a bushel; July corn rose 4 cents at 3.4650 a bushel, July oats was up 1.25 cents at $3.3975 a bushel; while July soybeans gained 6 cents at $8.9850 a bushel.
Beef and pork were higher the Chicago Mercantile Exchange. August live cattle rose .70 cents at $1.0010 a pound; August feeder cattle gained 1.28 cents at $1.3615 a pound; while July lean hogs was up .23 cents at $.4495 a pound.
Benchmark U.S. crude oil for August delivery fell 2 cents to settle at $40.63 a barrel Monday. Brent crude oil for September delivery rose 30 cents to $43.10 a barrel.
Wholesale gasoline for August delivery slipped 2 cents to $1.24 a gallon. August heating oil rose 1 cent to $1.24 a gallon. August natural gas gained 10 cents to $1.83 per 1,000 cubic feet.
Gold for August delivery rose $3.50 to $1,793.50 an ounce, silver for September delivery added 26 cents to $18.58 an ounce and September copper rose 3 cents to $2.77 a pound.
The dollar fell to 107.30 Japanese yen from 107.50 yen. The euro rose to $1.1317 from $1.1245.