U.S. stocks ended the session mixed as investors focused on the reopening of the U.S. economy in more states and cities post-pandemic, while also putting new money to work as the month begins.
The Dow Jones Industrial Average jumped over 238 points or 0.7%, while the S&P 500 increased 0.3%.Dow and the chemical giant Home Depot rose among other names.
The Nasdaq Composite reversed course however, down 0.48% as Amazon and Tesla weighed and investors turned off tech.
The robust corporate gains are extending Friday's rally that was driven by partial earnings.
80 percent of S&P 500 Companies reported positive profit surprises for the quarter, as noted by FactSet's John Butter.If this percentage holds it will mark the highest percentage of S&P 500 stocks recorded on the stock market.
In stocks news, Warren Buffett's Berkshire Hathaway is focused on reports that Greg Abel, who runs the energy arm of the conglomerate, will succeed the 90-year Oracle of Omaha when he is no longer at the helm of the company.
In deal news, Verizon has confirmed that it will sell its media assets including AOL and Yahoo to private equity firm Apollo for $5 billion.The new company will be called Yahoo and will continue to be led by CEO Guru Gowrappan.
Cosby shares tanked in earnings after the cosmetics giant's quarterly profits fell short of analyst expectations.Fabrizio Freda, President and CEO noted that some markets are feeling the impact of COVID-19.
After FBI Background Checks jumped by 20% compared to April 2020, gun stocks saw a fall.
Looking ahead, investors are also preparing for another busy week of corporate earnings from companies like Pfizer, General Motors and Uber.
Plus, there are several key reports on jobs coming starting with Thursday's ADP data, weekly jobless claims on Thursday, which fell to the lowest level since the pandemic, and Friday's monthly payroll report expected to show 46,000 added Americans to the national economy in March.The unemployment rate is expected to drop to 5.8% from 6% according to the economist's estimates.
In commodities, gold was marginally higher for trading at $63.73 per barrel, while oil rose to $1,781 an ounce.