WASHINGTON (dpa-AFX) - U.S. stocks climbed higher on Monday with those from
the technology sector turning in a fine performance, as traders indulged in some
bargain hunting after recent losses. Easing worries about Middle East tensions
helped underpin sentiment.

The major averages all closed on a firm note. The Dow ended with a gain of
253.78 points or 0.67 percent at 38,239.98, more than 200 points off the day's
high of 38,447.16. The S&P 500, which climbed to 5,038.84, settled at 5,010.60,
gaining 43.37 points or 0.87 percent, while the Nasdaq ended higher by 169.30
points or 1.11 percent at 15,451.31, off the day's high of 15,539.00.

The market gained amid slightly easing fears of a wider Middle East conflict
after Iran and Israel completed 'measured' counterattacks that were calibrated
to avoid any casualties. A bit of bargain hunting is contributing as well to the
market's rise.

Investors awaited a slew of key U.S. economic data this week, including reports
on new home sales, durable goods orders and personal income and spending.

The Commerce Department's personal income and spending report includes readings
on inflation said to be preferred by the Federal Reserve.

Earnings season also starts to pick up steam this week, with Tesla (TSLA),
Boeing (BA), IBM (IBM), Caterpillar (CAT), Honeywell (HON), Alphabet (GOOGL),
Intel (INTC), Microsoft (MSFT), Chevron (CVX) and Exxon Mobil (XOM) among the
companies due to report their quarterly results.

Goldman Sachs and JPMorgan Chase climbed 3.3% percent and about 2%,
respectively. Procter & Gamble gained 1.5 percent.

Amazon, McDonald, Chevron, Amgen and Walmart gained 1 to 1.5 percent.

Salesforce.com shares gained more than 1 percent after the company backed away
from its talks to acquire data-management software firm Informatica.

Ford Motor rallied more than 6 percent. United Airlines Holdings gained about 5
percent. Nvidia climbed 4.35 percent. Citigroup, Delta Airlines, Seagate
Technology, Moderna and American Airlines also ended sharply higher.

Verizon ended 4.7 percent down. The company, which announced weak profit and
slightly higher revenues in its first quarter, maintained its fiscal 2024
earnings outlook. For 2024, Verizon continues to expect adjusted earnings per
share of $4.50 to $4.70.

Tesla drifted down 3.4 percent, on concerns over gross margins after the company
lowered prices in several markets.

In overseas trading, stock markets across the Asia-Pacific region moved mostly
higher during trading on Monday. Japan's Nikkei 225 Index jumped by 1.0 percent,
while Hong Kong's Hang Seng Index surged by 1.8 percent.

The major European markets also moved to the upside on the day. While the U.K.'s
FTSE 100 Index shot up by 1.62 percent, the German DAX Index climbed 0.7 percent
and the French CAC 40 Index ended up by 0.22 percent.

In commodities trading, crude oil futures ended down $0.29 at $82.35 a barrel.
Gold futures dropped $66.20 or about 2.76 percent, to $2,332.20 an ounce.

On the currency front, the U.S. dollar was up at 154.84 yen versus the 154.64
yen it fetched at the close of New Yourk trading on Friday. Against the euro,
the dollar was at 1.0655, compared to last Friday's $1.0656.



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