Stocks rallied on Wall Street, pushing the S&P 500 to its biggest gain in nine months.
The 2.4% jump in the benchmark index Monday followed back-to-back weekly losses and came as investors were relieved to see long-term interest rates easing lower in the bond market. Higher interest rates can slow down economic growth and discourage borrowing. Investors were also watching Washington as a big economic stimulus bill advanced to the Senate.
The yield on the 10-year Treasury fell to 1.43% after reaching its highest level in more than a year last week. Technology stocks and smaller companies led the way higher.
The S&P 500 rose 90.67 points, or 2.4%, to 3,901.82.
The Dow Jones Industrial Average rose 603.14 points, or 2%, to 31,535.51.
The Nasdaq rose 396.48 points, or 3%, to 13,588.83.
The Russell 2000 index of smaller companies rose 74.27 points, or 3.4% to 2,275.32.
For the year:
The S&P 500 is up 145.75 points, or 3.9%.
The Dow is up 929.03 points, or 3%.
The Nasdaq is up 700.55 points, or 5.4%.
The Russell 2000 is up 300.47 points, or 15.2%.
The Associated Press