Tech stocks gained Monday on upgrades to Delland Intel, but the biggest news of the week lies ahead.
Intel gained 2% on a Citigroup upgrade of the chip sector, with stocks like Novellusfaring even better.
Dell, meanwhile, gained 2.4% on a Deutsche Bank buy rating ahead of its quarterly results on Thursday, as optimism grows that the computer maker can recover from multiple missteps over the last year. HP, which also reports after the close on Thursday, received a “hold” rating from the brokerage firm based on valuation.
Also reporting this week will be NetAppand Applied Materials, both after the close on Wednesday.
Wholesale and retail inflation data on Tuesday and Thursday will also occupy traders this week. The inflation readings are expected to come in tame, thanks in part to falling energy prices.
The Nasdaq gained 16 to 2406, the S&P 500 added 3 to 1384, and the Dow climbed 23 to 12,131. Volume rose to 2.41 billion shares on the NYSE, and 1.81 billion on the Nasdaq. Advancers led 16-15 on the NYSE, and 18-12 on the Nasdaq. Upside volume was 59% on the NYSE, and 70% on the Nasdaq. New highs-new lows were 256-27 on the NYSE, and 175-55 on the Nasdaq.