Stocks closed higher on Wall Street Monday following seven weeks of declines that nearly ended the bull market that began in March 2020.
Banks and technology stocks made some of the strongest gains. Bond yields rose.
Concerns about inflation have been weighing on the market and have kept major indexes in a slump recently. The S&P 500 is coming off its longest weekly losing streak since the dot-com bubble was deflating in 2001.
The S&P 500 rose 72.39 points, or 1.9%, to 3,973.75.
The Dow Jones Industrial Average rose 618.34 points, or 2%, to 31,880.24.
The Nasdaq rose 180.66 points, or 1.6%, to 11,535.27.
The Russell 2000 index of smaller companies rose 19.50 points, or 1.1%, to 1,792.76.
For the year:
The S&P 500 is down 792.43 points, or 16.6%.
The Dow is down 4,458.06 points, or 12.3%.
The Nasdaq is down 4,109.70 points, or 26.3%.
The Russell 2000 is down 452.55 points, or 20.2%.
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