04:55 PM EDT, 07/22/2024 (MT Newswires) -- US benchmark equity indexes rose Monday as markets awaited key corporate earnings scheduled to be released later in the 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 closed lower.

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

The US 10-year yield rose 1.6 basis points to 4.25% 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 second-quarter beat.

Truist Financial's ( TFC ) second-quarter results fell year over year as an accounting gain on the sale of a unit was countered by securities losses. The company's shares closed 3.2% higher.

Verizon Communications' ( VZ ) second-quarter 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-worst on the S&P 500.

CrowdStrike Holdings ( CRWD ) saw the biggest decline on the S&P 500 and the Nasdaq, down nearly 14%, following an 11% drop Friday.

Morgan Stanley on Monday reduced its price target on the stock to $396 from $422, saying the cybersecurity company's near-term financial outlook faces some 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 Monday.

Over the weekend, 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 in a Monday note to clients.

Gold was little changed at $2,399.90 per troy ounce, while silver rose 0.1% to $29.33 per ounce.