Equities edged up Monday with support from blue chip stocks. The Dow Jones industrial average gained 0.5 percent, the S&P 500 firmed 0.3 percent and the Nasdaq rose 0.4 percent. Bond yields were mostly higher, oil prices slipped while the dollar was mostly lower.

A good showing from blue chips including Chevron, Caterpillar and JP Morgan and megacap tech shares including Alphabet, Apple, and Tesla bolstered the broad market. Stocks got a boost Monday from perceptions that former President Trump is increasingly likely to win the presidential election even as bond yields rose on the view that a Trump presidency is likely to fuel inflation and lead to more debt issuance. Investors are betting the failed assassination attempt on Trump would fuel more support for the former president.

Solar shares were among the day's losers on the Trump trade, while bitcoin and cryptocurrency shares rallied in light of Trump's recent endorsement of crypto. Oil and gas stocks rallied on the view that Trump will mean more business and more profits, with oil driller Apache among the day's biggest winners.

Best sectors Monday included financials, consumer discretionary, energy, industrials, and communications services. Lagging were defensive plays including real estate, utilities and consumer staples.

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.