Dow Jones rises over 400 points while Monday.com shares drop after earnings report

U.S. stocks rose sharply on Monday, with the Dow Jones gaining over 400 points, up 0.98% to 44,417.88. The NASDAQ and S&P 500 also increased, rising 0.18% and 0.32%, respectively. Consumer discretionary shares led the gains, up 1.9%. Shares of Monday.com fell about 18% after the company reported third-quarter revenue growth of 33% year-over-year, reaching $251 million. Despite beating analyst expectations, the stock dropped as the company raised its 2024 revenue guidance slightly. In commodities, oil prices fell 2.2% to $68.81, while gold and silver also declined. European and Asian markets mostly closed higher, with Japan's Nikkei 225 gaining slightly and China's Shanghai Composite rising 0.51%.