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By Hilary Russ
NEW YORK (Reuters) - Wall Street rose while oil and government bond prices fell on Monday on the view that this weekend's U.S.-led missile strikes on Syria were unlikely to mark the start of a broader conflict.
Saturday's strikes marked the biggest intervention by Western countries against Syrian President Bashar al-Assad and his ally Russia, which is facing further economic sanctions over its role in the conflict.
The Dow Jones Industrial Average rose 190.35 points, or 0.78 percent, to 24,550.49, the S&P 500 gained 16.89 points, or 0.64 percent, to 2,673.19 and the Nasdaq Composite added 29.31 points, or 0.41 percent, to 7,135.96.
Hopes that the strike against Syria would not escalate further also spurred investors to shed the U.S. dollar.
The dollar index fell 0.3 percent, with the euro up 0.28 percent to $1.2364.
European shares eased, however, adding to a mixed picture from Asian stock markets and suggesting that a degree of caution prevails.
MSCI's gauge of stocks across the globe, which tracks shares in 47 countries, gained 0.30 percent.
European and U.S. government bond yields, which move inversely to prices, rose across the board. That was partly as attention turned to what is expected to be a robust first-quarter U.S. corporate earnings season, which begins in earnest this week.
The yields on German and U.S. government bonds, among the most liquid and safe assets in the world, were at their highest levels in nearly two weeks and four weeks, respectively.
Benchmark 10-year notes last fell 5/32 in price to yield 2.8469 percent, from 2.828 percent late on Friday.
The 30-year bond last fell 7/32 in price to yield 3.0463 percent, from 3.036 percent.
Some other traditional safe-haven bets held firmer, with gold and Japan's yen edging higher.
Even so, Japan's Nikkei rose 0.26 percent.
Oil prices, meanwhile, recouped some losses after falling sharply. Brent crude was last at $71.78, down 1.1 percent on the day, with a rise in U.S. drilling for new production also dragging on prices.
U.S. crude fell 1.34 percent to $66.49 per barrel.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)