US stocks gain, S&P 500 edges above 50-day moving average

US stocks rose on Monday, extending a rally from the previous session as investors grew more confident in the economy's strength and Federal Reserve policy. Merger activity and corporate restructuring also boosted equities, with the S&P 500 advancing above its 50-day moving average for the first time since September 29, a sign that near-term momentum is improving. Tech shares were among the strongest of the day after Hewlett-Packard Co said it would split into two public companies, sending shares up 4.2 per cent to $36.68 on heavy volume. The S&P 500 index had posted its best day since August on Friday, lifted by a stronger-than-expected jobs report that boosted optimism about the economy.