02:16 PM EDT, 10/28/2024 (MT Newswires) -- US equity indexes rose Monday on bullish expectations for earnings from giant tech companies, and most government bond yields gained.

The S&P 500 advanced 0.4% to 5,832.1 after midday, the Nasdaq Composite rose 0.6% to 18,622.2, and the Dow Jones Industrial Average climbed 0.7% to 42,426.5. Among sectors, financials and utilities led the gainers with only energy easing.

Quarterly earnings from Apple ( AAPL ) , Microsoft ( MSFT ) , Alphabet (GOOG, GOOGL), Amazon.com ( AMZN ) , and Meta Platforms ( META ) are due this week, starting Tuesday. Last week, Tesla's (TSLA) results helped push the Nasdaq to a record high.

Investors are preparing for earnings from Wall Street's "Magnificent 7" and the final phase before the Nov. 5 presidential election.

Through Friday afternoon, more than 36% of S&P 500 companies reported Q3 results, and earnings increased 3.2% from a year earlier, trailing consensus estimates of more than 4%, and revenue increased 3.8%, D.A. Davidson said in a note. Still, earnings beats are running slightly above average with 81% of S&P 500 companies topping estimates, Bankim Chadha, chief US equity and global strategist at Deutsche Bank Securities, said in a note.

"Companies are beating by an aggregate 6.1%, on the back of a sizeable benefit from lower-than expected loan loss provisions by banks," Chadha said. "Excluding provisions, earnings are beating by 5.3%, slightly better than the historical average of 4.9%. Sales beats are near average, while margin beats stayed above average."

The 10-year US Treasury yield jumped 5.6 basis points to 4.29%, the highest since late July. The two-year rate advanced 5.5 basis points to 4.15%, close to the highest since early August.

In economic news, the Dallas Fed's monthly manufacturing index improved to minus 3.0 in October from minus 9.0 in September, compared with expectations for minus 9.2. The index still indicates contraction, in line with the Empire State, Richmond Fed, Kansas City, and the S&P Global flash indexes, while contrasting with the Philadelphia Fed reading that signaled expansion.

In company news, Boeing ( BA ) is launching concurrent public offerings of 90 million common shares at a par value of $5 a share and $5 billion of depositary shares, each representing a 1/20th interest in a share of newly issued Series A mandatory convertible preferred stock at a par value of $1 a share. Boeing ( BA ) shares fell 0.8%.

West Texas Intermediate crude oil tumbled 5.7% to $67.68 a barrel after Israel held back from retaliatory strikes on Iran's oil and nuclear facilities.

Gold fell less than 0.1% to $2,753.01 an ounce while silver climbed 0.4% to $33.93 an ounce.