U.S. stocks climbed on Monday, with the S&P 500 marking its longest winning run in a month, as expectations for Apple's quarterly results outdid disappointment that came with a reduced outlook from International Business Machines.
"Because it (Apple) is such a visible stock, that can ease a lot of concern. It's a bellwether for the consumer in a way that some of these other companies may not be," said Jeffrey Kleintop, chief global investment strategist at Charles Schwab & Co.
In addition to Apple's results, economic data on China's GDP after Monday's close could impact trade on Tuesday.
"Where the stock market began to fall about a month ago really was the release around mid-month of Chinese data, as it started to show it wasn't just Europe," said Kleintop of indications of slowing global growth.
The CBOE Volatility Index, a measure of investor uncertainty, fell nearly 16 percent to 18.57.
IBM shares slid 7.1 percent after the technology giant and Dow component posted third-quarter earnings short of estimates. Apple gained 2.1 percent ahead of reporting results after the close.
"Aside from IBM, we've got a pretty good move so far. It seems investors have their bravado back on," said Jack Ablin, chief investment officer at BMO Private Bank.
"The more investors can focus on fundamentals, or economic improvement and earnings, the more likely they will feel embolden to invest," Ablin added.
Of 87 companies in the S&P 500 that have reported third-quarter results, 63.2 percent have beaten earnings expectations, 10.3 percent have reported in-line earnings and 26.4 percent have missed, according to Thomson Reuters.