US STOCKS-Wall Street climbs on tech gains as U.S. Treasury yields dip

U.S. stocks climbed on Monday, with the Nasdaq jumping more than 1% as a retreat in U.S. Treasury yields helped lift expensive stocks in sectors such as technology as investors attempt to gauge the trajectory of inflation. Among the 11 major S&P sectors, technology advanced 1.76% and communication services rose 1.84% as the top performing on the session, as yields on the benchmark 10-year Treasury bond hit a two-week low, which also buoyed other richly-valued growth stocks. Inflation concerns cooled for the time being as investors may be starting to view President Joe Biden's infrastructure bill as likely to be smaller, or unable to provide as big an economic boost, even after being pared down in size on Friday.