The Dow Jones Industrials gained 77.57 points to reach noon Monday at 34,568.60.
The S&P 500 surged 13.15 points to 4,518.57.
The NASDAQ index leaped 87.46 points to 14,201.17.
The second-quarter earnings season gains steam this week with results from big financial institutions such as Bank of America, Morgan Stanley and Goldman Sachs. Results are also due from United Airlines, Las Vegas Sands and technology giants Tesla and Netflix.
Shares of tech-giant Apple added 1.1%, while Tesla climbed roughly 3%. Shares of JPMorgan Chase ticked up 1.8%.
The moves came on the heels of solid big bank earnings and softer inflation reports that lifted investor sentiment. That heightened some hopes the Federal Reserve may be able to tamp down inflation without tipping the economy into a recession.
Wall Street is bracing for what be a gloomy season with lower profits. Analysts forecast a more than 7% decline in S&P 500 earnings from a year ago, according to FactSet.
This week also ushers in the Fed’s “blackout period” ahead of its July policy meeting. Traders anticipate a near 97% chance the central bank increases interest rates later this month, after pausing hikes in June.
Prices for the 10-year Treasury were stationary, keeping yields at Friday’s 3.82%.
Oil prices gave back 65 cents to $74.77 U.S. a barrel.
Gold prices dulled $8.30 to $1,956.10 U.S. an ounce.