Stocks rose Monday, with oil and technology shares gaining as investors purchased shares hit hard in the recent retreat. U.S. financial markets are closed Friday ahead of the Independence Day holiday weekend. Before that, a series of economic reports are due, including readings on housing, manufacturing, and the labor market. Stocks are likely to be volatile this week because of the July 4th holiday, the series of economic news, and the end of the second quarter, analysts say. Light sweet crude oil for August delivery rose $2.33 to $71.49 a barrel on the New York Mercantile Exchange. The U.S. dollar fell versus the euro and gained versus the yen. In corporate news, Enterprise Products Partners is buying fellow energy company Teppco Partners in a $3.3 billion deal that creates the biggest U.S. publicly traded energy partnership. Watson Wyatt Worldwide will merge with fellow consulting firm Towers Perrin in a deal valued at $3.5 billion. The combined company will be called Towers Watson. The Dow Jones industrial average rose 90.99, or 1.1 percent, to 8,529.38. Twenty-nine of the index's 30 components rose, with aluminum maker Alcoa the only decliner. Rising oil prices helped Chevron and Exxon Mobil. Other big gainers included Hewlett-Packard, Boeing, and United Technologies. The broader Standard & Poor's 500 index rose 8.33, or 0.9 percent, to 927.23. The technology-heavy Nasdaq composite index rose 5.84, or 0.3 percent to 1,844.06. Gainers included Intel and Microsoft. The New York Stock Exchange composite index rose 55.54 to 5,962.50. The American Stock Exchange composite index rose 2.10 to 1,593.28. And the Russell 2000 index fell 2.61 to 510.61.
