US stocks jump as investors get ready for a slew of corporate earnings

US stocks jumped on Monday as investors get ready for a slew of corporate earnings results. About 25% of the S&P 500 is expected to report their fourth-quarter earnings this

week.Tech stocks led the way higher on Monday after Spotify cut 6% of its workforce and an activist investor bought Salesforce.  US stocks surged on Monday, with the S&P 500

jumping above the closely-watched 4,000 level and its 200-day moving average.  The strong session on Monday extends big gains from Friday as investors assess a stream of

corporate news and earnings results. About 25% of companies in the S&P 500 are set to report fourth-quarter results this week. Of the 57 companies that have already

reported results so far, 67% beat profit estimates by a median of 5%, while 67% beat revenue estimates by a median of 2%, according to data from Fundstrat. More layoffs hit

the tech sector on Monday, with Spotify saying it plans to cut 6% of its workforce, or about 600 employees. The job cuts from Spotify are after Amazon, Alphabet, Salesforce, and

Microsoft all cut jobs in recent weeks. Shares of Spotify jumped as much as 5% before paring those gains.  Here's where US indexes stood at the 4:00 p.m. ET close on

Monday:S&P 500: 4,019.65, up 1.18%Dow Jones Industrial Average: 33,628.84, up 0.76% (253.35 points)Nasdaq Composite: 11,364.41, up 2.01% Here's what else happened