NEW YORK - The stock market logged its longest winning streak in six months Monday as another big week for company earnings began.
Halliburton, the oil and gas drilling company, rose after reporting a first quarter profit on rising revenue in the Middle East and Asia. Toy maker Hasbro gained after it said it returned to profitability in its first quarter, driven by sales of girls' toys such as My Little Pony and Nerf Rebelle. Netflix rose after the close after the company said its earnings surged as it attracted more subscribers.
"I like what I see in the market," said Karyn Cavanaugh, a senior market strategist with ING U.S. Investment Management. "It's all going to be about earnings, because earnings are the driver of the market in the long run."
The Standard & Poor's 500 index rose 7.04 points, or 0.38 percent, to 1,871.89. The index has risen five straight days, its longest streak of gains since October.
The Dow Jones industrial average climbed 40.71 points, or 0.25 percent, to 16,449.25. The Nasdaq composite gained 26.03 points, or 0.64 percent, to 4,121.55.
Halliburton rose $2.02, or 3 percent, to $62.92 after the company turned a profit in the first quarter following a loss in the same period a year ago. Last year the company set aside money for litigation over the 2010 Gulf of Mexico oil spill. Hasbro rose $1.05, or 1.9 percent, to $55.66 after its earnings came in higher than investors were expecting.
Investors' focus will largely be on corporate earnings this week.
McDonald's, Delta Air Lines, and Apple are among the 159 companies in the S&P 500 that are scheduled to report earnings this week. Together, the companies represent about a third of the value of the index.
Stocks have stabilized over the last week after a volatile start to the month, when a sell-off in high-flying technology and biotechnology stocks pushed the overall market lower. The S&P 500 climbed 2.7 percent last week, recovering its loss from a week earlier.
Among other stocks making big moves:
Newmont Mining jumped $1.42, or 6 percent, to $24.95 following reports that the mining company was considering a merger with Barrick Gold.
Athenahealth, a provider of online health-record services, slumped $9.99, or 7 percent, to $135.59 after the company reported earnings that fell short of analysts' estimates.