Stock market today: Wall Street rises to add to last week’s gains

NEW YORK — U.S. stocks closed higher on Wall Street, adding to last week’s gains. The S&P 500 climbed 1% Monday. The Dow Jones Industrial Average rose 0.5%, and the Nasdaq composite added 1.2%. Treasury yields held steady in the bond market following last week’s big moves on hopes that a cooling job market could get the Federal Reserve to cut interest rates this year. Berkshire Hathaway rose after Warren Buffett’s company reported its latest quarterly results over the weekend.

They helped to offset an 11.3% slide for Spirit Airlines, which reported a slightly worse loss than expected. The carrier said it’s facing increased competition in many of its markets, particularly between the United States and Latin America. Apple slipped 1.3% after Buffett pared Berkshire Hathaway's stake in the tech giant.

Goldman Sachs economist David Mericle said he still expects two cuts to rates this year, in July and November, after Fed Chair Jerome Powell “pushed back strongly against the possibility of further rate hikes” at his press conference last week. But several more big names are still on the way this week, including The Walt Disney Co. and Uber Technologies.

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