Global Markets: US stocks advanced on Monday, bolstered by solid gains in major tech shares. The Dow Jones Industrial Average climbed 114.88 points, or 0.43 per cent, to 26,584.77. The S&P 500 rose 23.78 points, or 0.74 per cent, to 3,239.41. The Nasdaq Composite Index jumped 173.09 points, or 1.67 per cent, to 10,536.27, Xinhua reported.

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Shares of US tech giants, the so-called FAANG group of Facebook, Apple, Amazon, Netflix and Google-parent Alphabet, all closed higher.

Nine of the 11 primary S&P 500 sectors gained, with technology up 1.61 per cent, outpacing the rest. Utilities and financials, however, struggled.

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US-listed Chinese companies traded mostly higher, with nine of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

Wall Street is bracing for a busy week with a big wave of earnings reports, including quarterly results from Apple, Amazon and Alphabet.

Investors also paid close attention to a continued spike in US coronavirus infections.

About 4.27 million confirmed Covid-19 cases have been reported in the United States, with over 147,000 deaths, as of Monday afternoon, according to a tally by Johns Hopkins University.

US equities declined in the past week that saw the Dow slide 0.8 per cent, the S&P 500 sink 0.3 per cent, and the Nasdaq lose 1.3 per cent.