U.S. stocks jumped on Monday as Goldman Sachs reported an earnings beat to start a busy week of quarterly reports, and as investors bet that the Federal Reserve will be less aggressive against inflation than feared.
The Dow Jones Industrial Average added 185 points, or 0.6%. S&P 500 gained 0.79%, while the Nasdaq Composite advanced 1.3%.
Goldman Sachs posted earnings and revenue that easily beat expectations, reporting that the firm’s fixed income traders generated about $700 million more revenue than expected. Shares popped nearly 4%.
Meanwhile, Boeing shares gained more than 4% on news that Delta Air Lines was buying 100 737 Max 10 planes.
Gold for August delivery rose $9.80, or 0.6%, to $1,713.40 an ounce.
Brent crude contracts for September, the global pricing benchmark, rose $2.58 to $103.66 per barrel.