Hewlett-Packard (HPQ) was another blue-chip winner. Basic materials and industrial shares also rose.

On Monday, the 30-stock Dow Jones industrial average ended with a gain of 90.99 points, or 1.08%, to 8,529.38. The broad Standard & Poor's 500-stock index was higher by 8.33 points, or 0.91%, to 927.23. The tech-heavy Nasdaq composite index added 5.84 points, or 0.32%, to 1,844.06.

On the New York Stock Exchange, 18 stocks were higher in price for every 11 that declined. Breadth on the Nasdaq was 14-11 negative.

Some traders were engaged in end-of-quarter portfolio adjusting. U.S. financial markets are closed Friday for the July 4 holiday.

Treasuries were higher Monday following a week of rather successful auctions. The dollar index was little changed after a report that said China has ruled out a sudden change in its foreign-reserves policy. Gold futures were lower.

There were no significant economic reports released Monday. On Tuesday, the market will receive updates on the S&P/Case-Shiller house price index for April, along with the Conference Board's consumer confidence index and the Chicago purchasing managers' survey for June.

Wall Street's main focus this week will likely be Thursday's nonfarm payroll report for June, which economists expect to show a 400,000 decline. The unemployment rate is seen climbing to 9.7%. Initial jobless claims, also Thursday, are seen down 7,000.

Bernard Madoff was sentenced to 150 years in prison Monday, meaning he will likely spend the rest of his life behind bars after admitting in March to running one of the largest and longest financial frauds in recent memory. At a packed hearing, U.S. District Judge Denny Chin in Manhattan ordered Madoff, 71 years old, to serve the statutory maximum sentence in prison. Applause briefly broke out after the sentence was announced. Late Friday, Judge Chin signed a preliminary forfeiture order against Madoff for more than $170 billion, leaving the one-time chairman of the NASDAQ Stock Market penniless. "Here the message must be sent that Mr. Madoff's crimes were extraordinary evil," Judge Chin said.

JPMorgan Chase (JPM), Goldman Sachs (GS), and Morgan Stanley (MS) are extending their dominance in underwriting equity offerings -- helped by the sale of shares of financial firms, including their own. The three New York-based banks together control 42% of the global market so far this year, according to data compiled by Bloomberg News. That's up from 30.7% for the three top underwriters in the first six months of 2008 and the highest concentration for any first half in at least a decade.

China and Brazil are working on a currency arrangement to allow exporters and importers to settle deals in their local currencies, bypassing the U.S. dollar, the countries' central banks said. Reuters reports other central bankers questioned the dollar's future role as the world's dominant reserve currency on the sidelines of the Bank for International Settlement's annual general meeting in the Swiss city of Basel, China's Central Bank Governor Zhou Xiaochuan and Brazil's Central Bank President Henrique Meirelles discussed the bilateral deal and "it is agreed in principle," a spokeswoman for the Brazilian central bank told Reuters. "They will start to study this." No details were available on the size of the arrangement or the timeline for finalizing details.

Among companies in the news Monday, State Street Corp. (STT) reportedly said it received a "Wells Notice" from the SEC.

First American (FAF) offered to acquire the remaining stake in First Advantage Corp. (FADV) it does not already own. Terms of the deal call for First Advantage holders to get 0.5375 shares of First American for each share held, representing an offer price of $14.04 per share.

Enterprise Products Partners L.P. (EPD) will merge with Teppco Partners L.P. (TPP) [along with Teppco's general partner]. The combined partnership will retain the name Enterprise Products Partners L.P. Teppco Partners unitholders, except for a certain affiliate of EPCO, Inc., will receive 1.24 Enterprise common units for each TPP unit, representing a 14.5% premium to the initial offer made by Enterprise on March 9, 2009.

FBR Capital downgraded its rating on shares of Alcoa (AA) to underperform from market perform.

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