A look at highlights from the day's business news:
Wall Street: Bring on the profit reports
Stocks closed higher Monday, recovering from earlier weakness, as optimism about corporate results due this week outweighed ongoing concerns about the economy.
The Dow Jones industrial average rose 56 points, or 0.5 percent. The S&P 500 index gained 6 points and the Nasdaq composite rose 19 points.
Stocks opened higher but struggled to gain momentum for most of the day as investors responded to a report that showed homebuilder confidence fell to a 15-year low in July, raising concerns about other housing reports due later this week.
But the major indexes rallied in the afternoon as investors geared up for key corporate results due this week, including reports from blue chips such as Microsoft, AT&T, Coca-Cola and American Express. Of the companies that have reported so far, about 75 percent have beaten earnings expectations and 71 percent have topped revenue forecasts.
Treasurys slip as stocks seesaw
Treasurys started the week lower Monday, losing ground from the previous week, as stocks seesawed.
The benchmark 10-year note fell 11/32 to 104-17/32 and its yield rose to 2.97 percent from 2.93 percent late Friday. Bond prices and yields move in opposite directions.
The 30-year bond dropped 27/32 to 106-25/32 and its yield was 3.99 percent, while the five-year note lost 6/32 to 100-26/32 with a yield of 1.71 percent. The two-year note was flat at 100-2/32 and its yield was 0.6 percent.
Treasurys posted a weekly gain last week as a slew of disappointing economic reports caused investors to worry about the U.S. economic outlook. The safe-haven Treasurys fell Monday as investors turned to riskier assets, but they pared some losses later in the morning as stocks seesawed.
With about 122 companies due to release second-quarter earnings results
this week, investors have been on edge, and bonds have moved inversely to the
stock market's swings. Because Treasurys are backed by the U.S. government, they are viewed as low-risk investments and are attractive during times of economic uncertainty.
CNNMoney.com reporters Ben Rooney andÂ Blake Ellis contributed to this report.