Dow closes up more than 400 points after weeks of sharp losses
By Hannah Denham and Hamza Shaban
Stocks closed up after a dramatic uptick during Monday’s trading day, as sectors that have been battered since the outbreak of the novel coronavirus led a broad-based rally.
The Dow Jones industrial average closed up 410 points, or 1.5 percent. The S&P 500 index closed up 53 points, or 1.6 percent, while the tech-heavy Nasdaq composite was up nearly 204 points, almost 1.9 percent, by the closing bell.
Monday’s market close trimmed some losses after a volatile month of selling, the continual spread of infections across the country and political uncertainty leading up to Election Day. Analysts are hopeful that the market is catching a breather after Wall Street’s weeks of September volatility.
Financial and energy companies rose sharply during the trading day, marking the largest gains of the S&P, at higher than 2 percent. But every sector began the week by gaining ground.