Stocks closed broadly higher on Wall Street Monday, reflecting investor optimism that the economy can continue its turnaround despite all the challenges ahead of it.
Technology companies accounted for a big slice of the gains, which helped to push the Nasdaq to another all-time high. Only utilities lagged. Dealmaking lifted shares of Uber and Berkshire Hathaway.
Treasury yields climbed after data showed improvements in the U.S. and Europe.
The S&P 500 rose 49.71 points, or 1.6%, to 3,179.72.
The Dow Jones Industrial Average gained 459.67 points, or 1.8%, to 26,287.03.
The Nasdaq climbed 226.02 points, or 2.2%, to 10,433.65, a record.
The Russell 2000 index of small company stocks added 11.02 points, or 0.8%, to 1,442.88.
For the year:
The S&P 500 is down 51.06 points, 1.6%.
The Dow is down 2,251.41 points, or 7.9%.
The Nasdaq is up 1,461.04 points, or 16.3%.
The Russell 2000 is down 225.59 points, or 13.5%.