US stocks climb as trader nerves settle amid the continuing Israel-Hamas conflict

• US stocks climbed Monday, with investors monitoring the ongoing conflict between Israel and Hamas.
• Investors are also focused on key earnings rolling out this week including Tesla and Netflix.

US stocks climbed Monday, with investor nerves settling as the Israel-Hamas conflict continues overseas and earnings season gets underway.

Over the weekend, the US ordered a second aircraft carrier to the eastern Mediterranean, ahead of a widely expected ground assault of Gaza by Israel. President Joe Biden said Sunday in a "60 Minutes" interview that Hamas should be eliminated entirely, while also calling for a path to establish a Palestinian state.

Meanwhile, over the next five days, 11% of the S&P 500 will report earnings, including key names like Netflix, Tesla, and Bank of America. Last week, big banks had a strong showing, with JPMorgan and Wells Fargo gaining on Friday.

Philadelphia Federal Reserve President Patrick Harker is set to speak today, while New York Fed President John Williams will speak Tuesday.

Here's where US indexes stood as the market opened at 9:30 a.m. on Monday:

• S&P 500: 4,353.01, up 0.58%

• Dow Jones Industrial Average: 33,920.47, up 0.78% (268.25 points)

• Nasdaq Composite: 13,474.86, up 0.50%

Here's what else is going on:

• Gary Gensler said it is "nearly unavoidable" that AI will cause a financial crash within a decade.
• UBS said to favor bonds over stocks, with 10-year Treasurys set to shake off the market meltdown and deliver double-digit returns.
• Ned Davis Research said today's stock market resembles 1987's, but that doesn't mean an October crash is imminent.
• Default risks loom for nearly $2 trillion of junk-rated debt, according to Moody's.
• Shares of luxury brands are tumbling in a sign that consumers' high-end spending spree is over.

In commodities, bonds, and crypto:

• Oil prices dropped, with West Texas Intermediate down 0.09% to $87.61 a barrel. Brent crude, the international benchmark, moved lower 0.10% to $90.80 a barrel.
• Gold edged lower 0.57% to $1,930.50 per ounce.
• The 10-year yield moved up 6 basis points to hover at 4.696%.
• Bitcoin climbed 3.63% to $28,003.