The Dow Jones Industrials barreled 100.24 points higher to close Monday at 35,559.53
The S&P 500 Index gained 6.73 points to 4,588.96.
The NASDAQ index picked up 29.37 points to 14,346.02.
Stocks finished July on a positive note. The S&P 500 jumped 3.1% to notch its fifth consecutive positive month for the first time since its seven-month streak ending August 2021. The tech-heavy NASDAQ Composite gained about 4.1% and registered its fifth straight winning month for the first time since April 2021.
The blue-chip Dow added about 3.4%. Last week, the index posted a 13-day advance that matched its longest streak of gains going back to 1987.
Investors in recent weeks have grown increasingly more hopeful about a soft-landing scenario as economic data shows ongoing strength in the labour market and cooling inflation.
While earnings season is more than halfway through, the chief investment officer is keeping an eye on Thursday’s reports from Amazon and Apple, which could “set the tone” for the rest of the market.
Prices for the 10-year Treasury gave up gains, lowering yields to Friday’s 3.96%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.29 to $81.87 U.S. a barrel. Gold prices brightened $3.90 to $2,003.80 U.S. an ounce.