Wall Street stocks gains on Goldman Sachs results, Boeing contract

• US stocks climb early Monday, extending a surge that began last week.
• Boeing shares jump after Delta agrees to buy $13.5 billion worth of Boeing planes.
• Earnings reports from Netflix, Johnson & Johnson and Tesla on the agenda this week.

Wall Street stocks climbed early Monday, extending a surge that began last week as markets absorbed Goldman Sachs’ good profits and a large new Boeing plane order.

Following a couple of punishing inflation readings last week, US stocks began the week on a high note, surging Friday on the back of strong retail sales figures.

Briefing.com analyst Patrick O’Hare pointed to “carryover momentum” at the start of a week that includes major earnings reports and decisions by the European Central Bank and other central banks.

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About 20 minutes into trading, the Dow Jones Industrial Average was up 0.9 percent at 31,556.91.

The broad-based S&P 500 advanced 0.9 percent to 3,899.33, while the tech-rich Nasdaq Composite Index gained 1.5 percent to 11,618.13.

Among individual companies, Boeing shot up 4.6 percent after announcing that Delta agreed to buy 100 medium-haul Boeing MAX passenger aircraft worth a combined $13.5 billion. Delta jumped 5.4 percent.

Goldman Sachs rose 3.6 percent after reporting a 48 percent reduction in quarterly earnings to $2.8 billion due to increased reserves for bad loans. However, the results exceeded analyst forecasts thanks to good trading performance.

The earnings calendar for this week includes reports from Netflix, Johnson & Johnson, and Tesla.

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