“The market is obviously poised for the opening of earnings season,” but investors are also hyper-focused on consumer prices and a heavy roster of Fed speakers this week, said Quincy Krosby, chief global strategist at LPL Financial in Charlotte, North Carolina.S&P 500 company earnings are due to unofficially kick off this week with reports from some big U.S. banks. Analysts expect earnings to have fallen 6.
The Dow Jones Industrial Average rose 209.52 points, or 0.62 percent, to 33,944.4, the S&P 500 gained 10.58 points, or 0.24 percent, at 4,409.53 and the Nasdaq Composite added 24.77 points, or 0.18 percent, at 13,685.48. Citigroup strategists on Monday downgraded U.S. stocks to “neutral,” and said megacap growth is set for a pullback and U.S. recession risks could still bite.Volume on U.S. exchanges was 10.20 billion shares, compared with the 11.09 billion average for the full session over the last 20 trading days.