U.S. stocks rise slightly to start the week, energy shares gain as oil tops $81 - Stockxpo - Grow more with Investors, Traders, Analyst and Research

U.S. stocks rise slightly to start the week, energy shares gain as oil tops $81

U.S. stocks churned to start the week Monday as oil prices popped and energy stocks gained.

The Dow Jones Industrial Average added about 60 points. The S&P 500 ticked up 0.2%. The Nasdaq Composite added 0.1%.

Energy stocks popped as WTI crude oil topped $82 a barrel before pulling back from session highs. The U.S. oil benchmark was still up nearly 2% at the $81 level.

Shares of Merck gained after the drug maker asked the Food and Drug Administration to authorize emergency use of its antiviral Covid pill.

The U.S. bond market is closed Monday for Columbus Day.

This week, major banks will kick off their third-quarter earnings reports. JPMorgan kicks it off on Wednesday, with Goldman Sachs, Bank of America, Morgan Stanley, Wells Fargo and Citigroup following later in the week. Delta Airlines and Walgreens Boots Alliance reports are also on deck.

Analysts estimate an earnings growth rate of 27.6% for the S&P 500 in the third quarter, which would be the third-highest growth rate since 2010.

After a 4.8% loss in September, the S&P 500 is now up about 2% for the month of October and sits about 3% from its record.

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