Tech, health care stocks are big gainers as US indexes rally

Investors shrugged off geopolitical jitters Monday, sending US stocks broadly higher and extending the market’s gains from last week.

Technology, health care, and industrial stocks accounted for much of the rally as traders focused on the latest company earnings and deal news.

Oil prices fell after surging last week ahead of the US-led missile attack on Syria’s chemical weapons program.


‘‘It’s some relief from the global political situation over the weekend,’’ said Willie Delwiche, investment strategist at Baird. ‘‘The other thing is we’ve had over the last few weeks particularly this build up in pessimism, and that provided some opportunity for stocks to rally once the news of this event was out of the way.’’

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The S&P 500 rose 0.8 percent, to 2,677.84. The Dow Jones industrial average gained 0.9 percent, to 24,573.04. The Nasdaq added 0.7 percent, to 7,156.28. The Russell 2000 index of smaller-company stocks picked up 0.9 percent, to 1,563.03.

The market was in rally mode from the start of trading Monday, despite a sell-off on major indexes in Europe.

Investors seemed to put aside concerns over the geopolitical tensions that led to Friday night’s missile attack by the United States, Britain, and France on Syria’s chemical weapons program. On Monday, the White House said it was considering imposing additional sanctions on Russia, a key ally of Syrian leader Bashar Assad.

Instead, the market shifted its focus to corporate America. Wall Street is forecasting the strongest growth in seven years for S&P 500 companies, and the hope has been that healthy profit reports will steady the market following a rough couple of months. Over the long term, stock prices tend to track the progress of corporate profits.


Investors welcomed J.B. Hunt Transport Services’ latest quarterly results Monday. The company said shipping volumes grew and rates increased. Its shares climbed 6.2 percent.

Bank of America got a boost after the lender posted a larger profit, helped by corporate tax cuts and rising interest rates. Its shares rose 0.4 percent.

A couple of gambling companies were among the big movers.

Carl Icahn’s company struck a roughly $1.85 billion deal that would fuse the gambling and hotel operations of Tropicana Entertainment and Eldorado Resorts Inc. Tropicana vaulted 26.8 percent higher. Eldorado jumped 16.2 percent.

Truck and engine maker Navistar International jumped 9.8 percent after Reuters reported that Volkswagen might buy the company.


Traders sold shares in WPP, the world’s largest ad agency, after its CEO, Martin Sorrell, resigned over an investigation into personal misconduct. Analysts say his departure could leave the company he founded three decades ago rudderless, but could also see parts sold off for higher value. The stock fell 4.7 percent.

Benchmark US crude declined 1.7 percent, to settle at $66.22 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, slipped 1.6 percent, to $71.42 in London.

Bond prices didn’t move much. The yield on the 10-year Treasury held steady at 2.83 percent.