Wall Street closes higher as S&P rises above key support level

The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all experienced gains before closing on Monday. The S&P 500 broke its 200-day moving average and, despite criticism from President Donald Trump, Amazon.com shares were the largest boost for Nasdaq.

Wall Street analysts told Reuters they expect S&P 500 earnings to increase by 18.4 percent in the first quarter.

“There was opportunity for sellers to break through the 200-day but that didn’t happen. Fundamentals are holding the stock market up. We’re on the verge of the earnings reporting season. That’s going to be a blockbuster,” said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.

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