US stocks climbed on Monday as Middle East war fears cooled and ahead of a pivotal week packed with Big Tech earnings, an inflation update, and a crucial monthly jobs report.
The tech-heavy Nasdaq Composite (^IXIC) jumped roughly 0.6%, while the S&P 500 (^GSPC) rose 0.5%. The Dow Jones Industrial Average (^DJI) also moved up 250 points, or about 0.6%.
The market was bolstered by relief that Israel limited its retaliatory strikes on Iran to military targets and not oil or nuclear facilities as feared. Oil futures tumbled nearly 6%, taking Brent (BZ=F) down to almost $71 a barrel and West Texas Intermediate (CL=F) to near $67.
The focus is on tech stocks, with five of the “Magnificent Seven” megacaps due to release earnings this week, after the Nasdaq Composite bucked Friday’s losing trend to close near a record.
Investors are looking to Alphabet (GOOGL, GOOG), Apple (AAPL), Amazon (AMZN), Microsoft (MSFT), and Meta (META) results to help…
