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Stock market today: Dow, S&P 500 clinch fresh highs as Nvidia surges to record

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Stocks are upbeat as Nvidia ht a fresh record high, with the next batch of big bank earnings in focus.

US stocks rose on Monday with two major indexes clinching record closes as Nvidia led a risk-on rally in the market that permeated through most sectors and even into cryptocurrencies. The S&P 500 moved up nearly 0.8% to close at a fresh record after ending above 5,800 for the first time on Friday. The tech-heavy Nasdaq Composite jumped nearly 0.9%. The Dow Jones Industrial Average rose more than 200 points, or almost 0.5%, to close above the 43,000 level for the first time.

Earnings are taking center stage as the first full week of third quarter results gets underway. How the season plays out is seen as key to the rally in stocks as the bull market turns 2 years old. The Dow and S&P 500 entered this week at new records after JPMorgan Chase and Wells Fargo earnings largely passed Wall Street's test. Investor focus is staying on big banks with reports from Goldman Sachs , Citi , and Bank of America on Tuesday's docket, and Morgan Stanley due Wednesday.

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