Stocks closed sharply higher Monday, powering the Dow Jones industrial average to a gain of nearly 670 points and erasing slightly more than half of the market’s big losses last week.
Technology companies led the market’s broad gains, giving the Dow and other major indexes their best day since August 2015. Banks also posted solid gains as bond yields rose. Investors were encouraged by signs Washington and Beijing are open to negotiating on trade.
The Standard & Poor’s 500 index rose 70.29 points, or 2.7 percent, to 2,658.55.
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The Dow gained 669.40 points, or 2.8 percent, to 24,202.60.
The Nasdaq added 227.88 points, or 3.3 percent, to 7,220.54.
The Russell 2000 index of smaller-company stocks picked up 33.63 points, or 2.2 percent, to 1,543.72.
For the year:
The S&P 500 is down 15.06 points, or 0.6 percent.
The Dow is down 516.62 points, or 2.1 percent.
The Nasdaq is up 317.15 points, or 4.6 percent.
The Russell 2000 is up 8.21 points, or 0.5 percent.