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U.S. stocks closed higher on Monday and the major averages all ended at new highs, amid optimism about the outlook for earnings. <\/p>\n
The Dow, which climbed to a new high at 38,109.20, settled at 38,001.81, gaining 138.01 points or 0.36 percent. The S&P 500 ended with a gain of 10.62 points or 0.22 percent, at 4,850.43, after posting a high of 4,868.41. The Nasdaq, which advanced to 15,438.85, settled at 15,360.29, gaining 49.32 points or 0.32 percent.<\/p>\n
Walt Disney, United Health, Caterpillar, Apple Inc., Travelers Companies and Goldman Sachs gained 1 to 2.2 percent.<\/p>\n
American Express, IBM, Amgen, Verizon, Cisco Systems, Merck and J&J posted modest gains.<\/p>\n
Macy’s gained more than 3.5 percent after the department store chain rejected a $5.8 billion takeover bid from Arkhouse Management and Brigade Capital Management.<\/p>\n
Home Depot shares drifted down by about 1.6 percent. Nike ended down 1.2 percent. Microsoft, JP Morgan Chase and Boeing also ended weak.<\/p>\n
General Electric, J&J, Procter & Gamble, 3M, Verizon, Tesla and AT&T are scheduled to announce their quarterly earnings this week.<\/p>\n
On the economic front, reports on durable goods orders, new home sales, fourth quarter GDP, and data on personal income and spending, are due this week.<\/p>\n
In overseas trading, Asian markets<\/span> turned in a mixed performance during trading on Monday. Japan’s Nikkei 225 Index jumped by 1.6 percent, while China’s Shanghai Composite Index plunged by 2.7 percent.<\/p>\n The major European markets closed higher with investors indulging in some buying ahead of some crucial economic data from the region, and the European Central Bank’s monetary policy announcement due later in the week.<\/p>\n The U.K.’s FTSE 100 gained 0.35 percent, Germany’s DAX ended higher by 0.77 percent, and France’s CAC 40 gained 0.56 percent. The pan European Stoxx 600 climbed 0.77 percent. <\/p>\n<\/p>\n Business News<\/p>\n<\/div>\n