Investing.com - U.S. stocks posted modest gains on Monday amid hopes a flurry of economic data due out this week, including gross domestic product, consumer confidence and home sales, will reflect an improving U.S. economy
At the close of U.S. trading, the Dow 30 rose 0.04%, the S&P 500 index rose 0.29%, while the Nasdaq Composite index rose 0.89%.
The S&P 500 VIX index, which measures the outlook for market volatility, was down 2.25% at 12.61.
In a session void of major economic indicators, stocks rose on hopes Tuesday's U.S. GDP and consumer confidence reports and Wednesday's new and pending home sales data will reflect an economy that continues to recover from the 2008 financial crisis and will see added growth going forward.
U.S. stocks also applauded data out of Europe revealing that German business sentiment improved this month after six successive months of declines, indicating that the downturn the euro area’s largest economy and key market for U.S. companies may be ending.
Germany’s Ifo business climate index rose to 104.7 from 103.2 in October, confounding forecasts for a decline to 103.0.
The current conditions index rose to 110.0 from 108.4 last month and the expectations index improved to 99.7 from 98.3, both figures topping market forecasts.
Elsewhere, retail stocks saw healthy demand on sentiments that falling gasoline prices will leave more money in household budgets for holiday shopping this year.
Leading Dow Jones Industrial Average performers included Intel Corporation (NASDAQ:INTC), up 1.85%, Walt Disney Company (NYSE:DIS), up 1.83%, and Boeing Company (NYSE:BA), up 1.34%.
The Dow Jones Industrial Average's worst performers included AT&T Inc (NYSE:T), down 1.63%, Verizon Communications Inc (NYSE:VZ), down 1.42%, and United Technologies Corporation (NYSE:UTX), down 1.37%.
European indices, meanwhile, ended the day largely higher.
After the close of European trade, the Euro Stoxx 50 rose 0.55%, France's CAC 40 rose 0.49%, while Germany's DAX 30 rose 0.54%. Meanwhile, in the U.K. the FTSE 100 fell 0.31%.
On Tuesday, expect investors to track U.S. economic growth data as well as a U.S. consumer confidence report.