04:37 PM EDT, 07/22/2024 (MT Newswires) -- US benchmark equity indexes rose Monday as markets awaited several key corporate earnings scheduled to be released this week.

The Nasdaq Composite increased 1.6% to 18,007.6, while the S&P 500 gained 1.1% to 5,564.4. The Dow Jones Industrial Average advanced 0.3% to 40,415.4. Technology led the gainers among sectors, while energy and consumer staples were the lone decliners.

Google ( GOOG ) parent Alphabet (GOOG, GOOGL), Tesla (TSLA), Visa (V), AbbVie ( ABBV ) , Coca-Cola (KO), IBM ( IBM ) , AT&T ( T ) , 3M ( MMM ) and Charter Communications ( CHTR ) are among the major companies set to report quarterly financial results this week.

The US 10-year yield rose 1.7 basis points to 4.26% Monday, while the two-year rate added 1.4 basis points to 4.52%.

In company news, Iqvia ( IQV ) shares jumped 9.2%, the top performer on the S&P 500, as the company raised its full-year earnings outlook following a Q2 beat.

Truist Financial's ( TFC ) Q2 results fell as an accounting gain on the sale of a unit was countered by securities losses. The company's shares gained 3.2%.

Verizon Communications' ( VZ ) Q2 revenue missed estimates amid a decline in upgrade volumes for wireless equipment. The telecommunication giant's stock fell 6.1%, the steepest decline on the Dow and the second-biggest on the S&P 500.

CrowdStrike Holdings ( CRWD ) fell 13%, the biggest decline on the S&P 500 and the Nasdaq following an 11% drop Friday. Morgan Stanley reduced its price target on the stock to $396 from $422, saying the cybersecurity company's near-term financial outlook faces uncertainty following Friday's global technology outage, though the company can likely limit "reputational damage" in the longer term.

West Texas Intermediate crude oil fell 0.2% to $79.95 a barrel.

On Sunday, US President Joe Biden dropped out of the presidential race and endorsed Vice President Kamala Harris as the Democratic Party's nominee for president.

"We caution against making election predictions in portfolios, but expect elevated volatility given uncertainty," D.A. Davidson said Monday in a note to clients.

Gold rose 0.1% to $2,400.50 per troy ounce, while silver added 0.2% to $29.36 per ounce.