Roundup: U.S. stocks end slightly higher amid upbeat earnings

U.S. stocks rallied Monday, with the Nasdaq Composite Index setting a closing record for the third straight session, as investors digested positive second- quarter earnings reports.

The Dow Jones Industrial Average added 13.96 points, or 0.08 percent, to 18,100.41. The S&P 500 edged up 1.64 points, or 0.08 percent, to 2,128.28. The Nasdaq Composite Index increased 8.72 points, or 0.17 percent, to 5,218.86.

With no major economic reports due out Monday, the market's attention centered on the quarterly results from big companies.

Morgan Stanley fell 0.40 percent to 40.04 dollars a share after reporting slightly better-than-expected quarterly results. The bank posted a net income of 1.8 billion U.S. dollars on net revenues of 9.7 billion for the second quarter, compared with a net income of 1.9 billion on revenues of 8.6 billion a year ago.

Halliburton Co. gained 1.83 percent to 40.72 dollars a share Monday following the release of quarterly results that also beat Wall Street forecasts. The oilfield services provider announced that its income from continuing operations for the second quarter of 2015 was 380 million dollars, or 0.44 dollars per diluted share, excluding special items.

In other news, PayPal shares jumped 5.44 percent to 40.48 dollars apiece in its first day of trade Monday. The Global online payment giant announced Monday that it has completed its separation from eBay Inc. and is now an independent public company trading on Nasdaq under the ticker symbol "PYPL".

Overseas, Greek banks reopened Monday after a three-week holiday, introduced to avert a collapse of the country's banking system amidst fears of an imminent sovereign debt default and the so-called "Grexit" from the eurozone.

On the same day, the International Monetary Fund said Greece is no longer in arrears to the IMF after the country repaid the around 2 billion euro (about 2.17 billion U.S. dollars) it owed to the organization.

European shares finished higher following Greece news Monday, with British benchmark FTSE 100 Index rising 0.20 percent.

In Asia, Chinese equities kept recovering Monday as the China Securities Regulatory Commission dismissed rumors that it mulled pulling rescue funds used to stem heavy sell-offs after recent sharp declines. The benchmark Shanghai Composite Index increased 0. 88 percent.

The CBOE Volatility Index, often referred to as Wall Street's fear gauge, rose 2.51 percent to end at 12.25 Monday.

In other markets, oil prices fell Monday as traders worried that more Iran crude would come to the already well-supplied oil market.

The West Texas Intermediate for August delivery moved down 74 cents to settle at 50.15 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery decreased 45 cents to close at 56.65 dollars a barrel on the London ICE Future Exchange.

The U.S. dollar climbed against other major currencies Monday as investors' expectation for the Federal Reserve to raise interest rates later this year continued to weigh on the market.

In late New York trading, the euro fell to 1.0824 dollars from 1.0851 dollars in the previous session, while the dollar bought 124.30 Japanese yen, higher than 124.09 yen of the previous session.

Gold futures on the COMEX division of the New York Mercantile Exchange fell Monday as the market continued to price in expectations for a future increase in the U. S. interest rate.

The most active gold contract for August delivery lost 25.1 dollars, or 2.22 percent, to settle at 1,106.80 dollars per ounce. Endite