NEW YORK (TheStreet) -- Stocks rebounded on Monday following a major selloff on Friday as better-than-expected earnings from Morgan Stanley and Hasbro helped boost market sentiment. The S&P 500 was up 0.42%, the Dow Jones Industrial Average gained 0.42%, and the Nasdaq climbed 0.53%. Stocks plummeted on Friday with the S&P 500 falling more than 1% and the Dow giving up its year-to-date gains. Global markets were under pressure as Greece's debt woes appeared insurmountable and changes in Chinese market regulation spooked investors. Morgan Stanley jumped 1.2% on Monday after reporting first-quarter profit of $1.14 a share, beating analysts' estimates by 36 cents. Revenue surged 10.3% to $9.78 billion on a pickup in merger and acquisitions and increased trading activity. Toymaker Hasbro spiked more than 7% after quarterly profit of 21 cents a share came in more than double estimates. Stripping away currency headwinds, sales grew 14% from a year earlier. Halliburton was moving slightly higher after a better-than-expected quarter. The oil services company generated net income of 49 cents a share, 12 cents higher than forecasts. Revenue slid more than 4% to $7.05 billion. Royal Caribbean Cruises tumbled more 5.7% after lowering its full-year earnings guidance to $4.45 to $4.65 a share, down from $4.65 to $4.85 a share. The cruiseliner said profit would be hit by a stronger dollar and higher expenses. The U.S. economy will improve after the first quarter, said William Dudley, president of the Federal Reserve Bank of New York, in prepared remarks to an economic forum on Monday. Dudley cited winter weather and West Coast port closures as reasons for weakness and soft inflation over the first quarter, the effects of which should dissipate in the second quarter onward. China launched its latest stimulus measures on Sunday in a move to combat economic growth at six-year lows. The People's Bank of China cut the reserve requirement ratio for banks to 18.5%. Banks will be able to hold lower levels of cash reserves, adding extra liquidity to lend out money. European markets were bouncing back from major losses on Friday. Worries over Greece's future in the eurozone persisted, though, as Greek leaders prepare to meet again with European creditors this week to discuss further debt relief. Athens has been under pressure to provide a more detailed list of economic reforms. "We expect Chinese growth worries and concerns over Greek debt to remain at the forefront early in the week, with domestic data taking the torch from international events later in the week," said TD Securities' Gennadiy Goldberg. The economic calendar is bare on Monday with no major releases scheduled until Wednesday when monthly existing home sales data is due. Jobless claims and new home sales data is due on Thursday, with durable goods orders numbers slated for Friday. Comcast and Time Warner were on watch following reports the two companies are scheduled for talks with the Justice Department on Wednesday. Justice officials reportedly are against the $45 billion merger on antitrust grounds, according to The Wall Street Journal. Target shares were also on the radar after the company saw major in-store and Web site delays after launching its Lilly Pulitzer line over the weekend. Stores have reportedly already sold out of the line.
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