Equities advanced Monday with a late boost as yields declined after solid results in the U.S. Treasury 20-year bond sale. The Dow Jones industrial average rose 0.6 percent, the S&P 500 gained 0.7 percent, and the Nasdaq was up 1.1 percent. US Treasury yields declined while oil prices and the dollar rose.

Megacaps had a good day to help the Nasdaq outperform, and they added to their gains in the afternoon as bond yields continued lower amid relief that the U.S. Treasury 20-year sale attracted strong interest. Investors had expressed concern that much lower yields in the last month and rising Treasury supply would hurt investor demand. Oil prices perked up Monday as traders bet on output cuts from OPEC+.

Among sectors, best were technology, communications services, consumer discretionary, and energy. Utilities lagged. Among Dow industrials, best performers were Disney, Boeing, and Salesforce while Walgreens lagged.

Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.

Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.