US stocks rose on Monday as investors prepare for a busy earnings week for blue-chip technology groups, whose results will be used as a barometer for the health of the consumer economy.
On Wall Street, the benchmark S&P 500 closed 1.2 per cent higher, while the tech-heavy Nasdaq Composite added 0.9 cent, continuing a rally from last week, driven by news that the Federal Reserve may soon slow the pace of interest rate rises.
That positive sentiment will be tested this week as investors examine earnings from Meta, Amazon, Microsoft and Alphabet, which will offer guidance on the strength of the US consumer in a year where online spending and digital advertising revenues have decelerated in the face of rising inflation.
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