The Dow Jones Industrial Average rose 327.79 points, or 1.12%, to 29,591.27, the S&P 500 gained 20.05 points, or 0.56%, to 3,577.59 and the Nasdaq Composite added 25.66 points, or 0.22%, to 11,880.63.
NEW YORK: U.S. stocks closed higher in a choppy session on Monday as hopes for a COVID-19 vaccine lifted economically sensitive sectors such as energy and industrials, but a pullback in megacap shares curbed gains on the S&P 500 and Nasdaq.
Cyclicals led gains, with energy ahead by 7.09% while industrials and financials each rose more than 1%, as data showed monthly business activity expanded at the fastest rate in more than five years.
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