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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 0.71%, S&P 500 0.47%, Nasdaq 0.58%

(Updated at 9:40 a.m. ET/1340 GMT)

By Lisa Pauline Mattackal

Oct 28 (Reuters) - Wall Street opened higher on Monday

as the main U.S. stock indexes looked set to recoup some losses

following a turbulent trading week, ahead of earnings from a

host of megacap companies and the final stretch of the Nov. 5

presidential election.

The Dow Jones Industrial Average rose 298.63 points,

or 0.71%, to 42,413.03, the S&P 500 gained 27.49 points,

or 0.47%, to 5,835.61, and the Nasdaq Composite gained

107.00 points, or 0.58%, to 18,625.61.

The main focus 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

0.8% and Microsoft ( MSFT ) was 0.3% higher, ahead of their

results later in the week.

Apple ( AAPL ) and Amazon.com ( AMZN ) also report 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.

Investors were likely to focus primarily on companies'

capital expenditure in response to AI demand, said Jay Woods,

chief global strategist at Freedom Capital Markets.

"Will this be perceived as money well spent or will the

stocks get punished?".

Israel's response 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.

"The market is worried about a real escalation in the war in

the Middle East, and that doesn't seem to (be) that likely,

based on the recent attack" said Jan von Gerich, chief analyst

at Nordea.

The energy sector fell 1.5% as crude prices plunged

5%. The small-cap Russell 2000 jumped 1.5%.

The S&P 500 and the Dow Jones ended a six-week winning

streak on Friday as investors repriced expectations for Federal

Reserve interest rate cuts.

Economic data due this week will be crucial for that

assessment, most notably the Personal Consumption Expenditure

index and the closely watched nonfarm payrolls report.

Investors all but expect a 25-basis point rate reduction at

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

FedWatch.

Focus was also on the U.S. presidential election, with

markets more broadly pricing in a second Donald Trump

administration.

Boeing's ( BA ) shares dipped 1.8% after the planemaker

launched a stock offering that could raise up to $19 billion in

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

Industrial conglomerate 3M ( MMM ) jumped 3.5%, giving a

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

company's shares.

Advancing issues outnumbered decliners for a 3.64-to-1 ratio

on the NYSE and a 3.14-to-1 ratio on the Nasdaq.

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

while the Nasdaq Composite recorded 43 new highs and 16 new

lows.