US stocks advanced on the first trading day of the month as investors redirected their attention to a busy schedule of corporate earnings reports due this week. The shift back to company results helped lift market sentiment.
The S&P 500 closed 1.5% higher, putting the benchmark near a record level. US stock futures also climbed, extending the positive tone described in the market session.
Oil prices moved lower as equities gained, marking a contrast between the stronger stock performance and weakness in the energy market. Investors are now looking to this week’s earnings slate for signals that could shape the next market move.
