Advertisment
U.S. stocks closed higher on Monday as investors await inflation and retail-sales data later this week.
The Dow Jones Industrial Average DJIA advanced 87.13 points, or 0.3% to 34,663.72. The S&P 500 SPX rose 29.97 points, or 0.7%, to 4,487.46 and the Nasdaq Composite COMP climbed 156.37 points, or 1.1%, to 13,917.89.
Tesla shares jumped more than 10% after Morgan Stanley upgraded the stock and predicted a significant rally ahead because of breakthroughs with its autonomous software.
Qualcomm shares rose 3.9% after the semiconductor company said Monday it will supply Apple with 5G modems for smartphones through 2026.
In other corporate news, Disney shares rose 1.2% after CNBC reported the media conglomerate and Charter Communications had reached a deal to end their cable blackout fight.
Hostess Brands shares soared 19.3% on Monday following confirmation that JM Smucker will pay $5.6 billion in cash and shares.
The yield on the 2-year Treasury rose 1.1 basis points to 4.993%, while the rate on the 10-year Treasury advanced 3 basis points to 4.287%.
