NEW YORK: Wall Street stocks rose early Monday, extending a rally that started last week as markets digested solid earnings from Goldman Sachs and a big new Boeing plane order.
After a pair of bruising inflation readings last week, US stocks finished the week on an upbeat note, rising Friday after good retail sales results.
Briefing.com analyst Patrick O’Hare pointed to “carryover momentum” at the start of a week that includes major earnings reports and decisions by the European Central Bank and other central banks.
About 20 minutes into trading, the Dow Jones Industrial Average was up 0.9 percent at 31,556.91.
The broad-based S&P 500 advanced 0.9 percent to 3,899.33, while the tech-rich Nasdaq Composite Index gained 1.5 percent to 11,618.13.
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Among individual companies, Boeing shot up 4.6 percent after announcing that Delta agreed to buy 100 medium-haul Boeing MAX passenger aircraft worth a combined $13.5 billion. Delta jumped 5.4 percent.
Goldman Sachs climbed 3.6 percent as it reported a 48 percent drop in quarterly earnings to $2.8 billion after setting aside more funds in case of bad loans. However, results topped analyst expectations following a strong performance in trading.
This week’s earnings calendar includes results from Netflix, Johnson & Johnson and Tesla.
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