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New York - US stocks mostly rose on Monday as traders awaited the start of earnings season with news of metals giant Alcoa's large new contract with General Electric.
Fifty minutes into trade, the Dow Jones Industrial Average was up 21.95 points, or 0.13%, at 16 368.40.
The broad-market S&P 500 index advanced 1.18 (0.06%) to 1 923.21, while the tech-rich Nasdaq Composite sagged 1.75 (0.04%) to 4 641.88.
The modest gains followed the worst opening week of any year on record for Wall Street, the Dow and S&P 500 both losing about 6% amid worries about falling oil prices and the slowing Chinese economy.
Alcoa, which unofficially kicks off fourth quarter earnings season after the market closes, said it will supply parts for GE Aviation jet engines in a long-term contract worth more than $1.5bn. Alcoa shares slipped 0.4% to $8.03, while Dow member GE rose 0.5% to $28.59.
Companies reporting earnings this week include JPMorgan Chase, Citigroup and Intel.
Heavyweight Apple gained 1.2% at $98.17 after the Financial Times reported its music streaming subscribers topped 10 million.
Illinois biotech firm Baxalta was up 0.3% at $40.13 after it agreed to be acquired by Dublin-based pharmaceutical group Shire in $32bn cash-and-stock deal, aimed at forming a global biotech giant targeting rare diseases. The agreement implies a current value for Baxalta of $45.57 per share, the companies said.
Shire's US-traded shares dropped 5.2% to $176.31.
Arch Coal, a leading coal producer for the global steel and power generation industries, filed for Chapter 11 bankruptcy protection Monday, as it battles competition from cheap natural gas.
Arch's share price closed at 82 cents last Friday. It sank to 41 cents on Monday before the New York Stock Exchange suspended trading and said Arch shares would be delisted.
