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Boeing ( BA ) falls on stock offering

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Energy shares track crude prices lower

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169 S&P 500 companies to report this week

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Indexes up: Dow 0.65%, S&P 500 0.41%, Nasdaq 0.53%

(Updated at 11:50 a.m. ET/1550 GMT)

By Lisa Pauline Mattackal

Oct 28 (Reuters) - Wall Street rose on Monday ahead of

earnings from a host of megacap companies and the final stretch

of the Nov. 5 election, while sentiment also improved after

developments in the Middle East over the weekend did not disrupt

energy supplies.

Israel's response over the weekend to an Iranian missile

attack earlier this month focused, so far, on missile factories

and other sites near Tehran, rather than on refineries or

nuclear targets, assuaging some worries about the situation in

the region.

"(Today's gains) have more to do with not as bad as feared

geopolitical events ... while Israel's response was very large,

it really didn't disrupt any of the material commodity flows

that would impact markets on a global basis," said Brian

Mulberry, client portfolio manager at Zacks Investment

Management.

The focus, however, was on events in the week ahead, most

notably corporate results, with around 169 S&P 500 companies

scheduled to report through the week.

That includes the bulk of the "Magnificent Seven" group of

megacap technology giants that have been Wall Street's biggest

drivers this year, as equities rallied to all-time highs.

Alphabet rose 1%, Meta Platforms ( META ) was up

0.6% and Apple ( AAPL ) was 1% higher, ahead of their results

later in the week.

Microsoft ( MSFT ) and Amazon.com ( AMZN ) also report

earnings this week. The five companies jointly make up about 23%

of the S&P 500's weightage, and investor reaction to their

results will be a key determining factor in whether indexes

continue to climb or retreat.

"The investor community is really starting to want to see

results on AI," Mulberry said.

At 11:51 a.m. the Dow Jones Industrial Average rose

272.42 points, or 0.65%, to 42,386.82, the S&P 500 gained

23.64 points, or 0.41%, to 5,831.76, and the Nasdaq Composite

gained 100.38 points, or 0.53%, to 18,618.98.

The small-cap Russell 2000 jumped 1.6%, outperforming

major indexes as oil prices eased.

The energy sector dropped 1% as crude prices plunged

5% on easing supply worries, while utilities shares

led sectoral gains.

Airline stocks also rallied, with the S&P 500 passenger

airlines index up 3.4% to a more than two-year high.

Economic data due this week will be crucial for assessment

of Federal Reserve policy, most notably the Personal Consumption

Expenditure index and the closely watched nonfarm payrolls

report.

Investors all but expect a 25-basis point interest rate

reduction at the U.S. central bank's next meeting, according to

CME's FedWatch.

Focus will also be on the U.S. presidential election, with

markets more broadly pricing in a second Donald Trump

administration, though the election is expected to be close.

Boeing's ( BA ) shares dipped 1.1% after the planemaker

launched a stock offering that could raise up to $22 billion in

a bid to shore up its finances amid an ongoing worker strike.

Industrial conglomerate 3M ( MMM ) jumped 3.7%, giving a

boost to the Dow, after JP Morgan hiked its price target on the

company's shares.

Advancing issues outnumbered decliners for a 2.57-to-1 ratio

on the NYSE and a 2.43-to-1 ratio on the Nasdaq.

The S&P 500 posted 11 new 52-week highs and two new lows,

while the Nasdaq Composite recorded 74 new highs and 41 new

lows.