STOCK MARKET NEWS: Dow adds 300 points, Boeing, Delta jump on plane order, oil hits $91

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Symbol Price Change %Change
I:DJI $31,288.26 +658.09 +2.15%
SP500 $3,863.16 +72.78 +1.92%
I:COMP $11,452.42 +201.24 +1.79%

Second-quarter earnings season ramps up this week, with seven of the 30 Dow members, and 71 companies in the S&P 500 (just over 14% of the benchmark index) set to report. 

The big banks and financial institutions kicked things off last week, and this week we’ll hear from a great many more, including Bank of America, Goldman Sachs, American Express and Travelers to name a few. 

Tesla will kick off the first of the big-cap consumer/tech titans with April-June results on Tuesday, followed by Netflix on Wednesday. 

Other high-profile names to watch include AT&T, Lockheed Martin, HCA Healthcare, American Airlines, United Airlines, Ebay and Abbott Labs. 

A July survey from the University of Michigan showed that inflation expectations held steady or improved, along with general consumer sentiment. That was welcome news after reports that showed consumer prices remained extremely hot in June, along with wholesale prices for businesses. 

The report also bodes well for investors looking for signs that the Federal Reserve might eventually ease off its aggressive policy to fight inflation. 

The S&P 500 rose 1.9% to 3,863.16. Friday, snapping a five-day losing streak. The Dow Jones Industrial Average rose 2.1% to 31,288.26 and the Nasdaq gained 1.8% to 11,452.42 on Friday.

Smaller company stocks outpaced the broader market, sending the Russell 2000 index 2.2% higher, to 1,744.37. 

Meanwhile, markets in Japan were closed Monday for a holiday, but elsewhere in Asia shares were higher. 

Hong Kong’s Hang Seng index surged 1% to 20,507.34, while the Shanghai Composite index gained 0.7% to 3,251.54.

In Seoul, the Kospi jumped 1.4% to 2,363.36. Australia’s S&P/ASX 500 added 0.5% to 6,637.50. 

New Zealand shares edged higher even after the government reported that inflation hit a 32-year high of 7.3% in the April-June quarter. It was 6.9% in the previous quarter.