NEW YORK — U. S. stocks bounced back on Monday after the S&P 500 closed the previous session<br />at a two-month low, in a broad rally led by recently beaten-down bank and technology shares.<br />At the closing bell on Monday, the Dow Jones Industrial Average rose 183.67 points, or 0.9 percent, to 20,636.92, the S&P 500 gained 20.06 points, or 0.86 percent, to 2,349.01<br />and the Nasdaq Composite added 51.64 points, or 0.89 percent, to 5,856.79.<br />The S&P 500 posted 14 new 52-week highs and 1 new low; the Nasdaq Composite recorded 32 new highs and 49 new lows.<br />Tuz said strong bank earnings last week kept the group in investors’ favor, and there is support for stocks from expectations<br />that overall earnings for the S&P 500 will be "pretty robust."<br />U. S. Vice President Mike Pence put North Korea on notice on Monday, warning<br />that recent U. S. military strikes in Syria and Afghanistan showed the resolve of President Donald Trump should not be tested.<br />Incyte Corp tumbled 10.5 percent to $126.07, while Eli Lilly dropped 4.1 percent to $82.38 after the companies said<br />on Friday the U. S. drug regulator declined to approve a new drug for rheumatoid arthritis from the two partners.<br />Profits of S&P 500 companies are estimated to have risen 10.4 percent in the latest quarter, the first<br />double-digit percentage growth since the third quarter of 2014, according to Thomson Reuters I/B/E/S.
