⁍ All three major U.S. stock indexes made solid gains on the heels of the longest weekly losing streak in over a year for both the Dow and S&P 500.


⁍ Energy and financials enjoyed the largest percentage gains among major S&P 500 sectors, all of which ended the session in the black.


⁍ The indexes are only days away from closing the books on their first monthly declines since March.


– The Dow Jones Industrial Average closed above 27,000 for the first time in more than a month on Monday, helped by a rebound in energy and financial stocks. The Dow rose more than 400 points, 1.6%, to 27,584, while the S&P 500 and Nasdaq rose by 1.7% and 1.8%, respectively, per the Wall Street Journal. For the week, the Dow fell 2.2%, the S&P dropped 3.1%, and the Nasdaq fell 4.6%. The market’s rebound came after it suffered its longest weekly losing streak in more than a year last week, with both the Dow and the S&P 500 suffering their worst weekly declines since March, per Reuters. “Today’s market is being led by energy and financials, but it’s a very well-balanced market,” says an analyst at Inverness Counsel in New York. “Every sector is participating in this rally.” Nancy Pelosi said in an MSNBC interview Monday that stimulus talks with Treasury Secretary Steven Mnuchin are due to continue, suggesting a possible progress to end the stalemate. “I’m not sure there’s any chance of it happening before the end of the year, but it’s in the news and giving some traders some confidence,” the analyst says.



Source: https://www.reuters.com/article/us-usa-stocks/wall-street-closes-higher-as-energy-financials-lead-broad-rally-idUSKBN26J1R0