U.S. stocks climbed on Monday as the market attempted to recover some of the losses caused by the Federal Reserve’s policy shift.
The Dow Jones Industrials sprang back to life Monday, jumping 508.18 points, or 1.5%, to pause for lunch at 33,798.26, rebounding from its worst week since October.
The S&P 500 recouped 51.15 points, or 1.2%, to 4,217.60,
The NASDAQ restocked 99.12 points to 14,129.50, as some key tech names including Amazon, Tesla and Netflix all traded in the red.
Commodity stocks that were hit hard last week led the market comeback on Monday as the S&P 500 energy sector rallied nearly 3%. Devon Energy and Occidental Petroleum jumped 4% each, while Exxon and Chevron were both up 2% apiece.
Reopening plays including Norwegian Cruise Line, Gap and Boeing were higher. Banks including JPMorgan, Bank of America and Goldman Sachs also rebounded.
Prices for 10-Year Treasurys stumbled, raising yields to 1.48% from Friday’s 1.44%. Treasury prices and yields move in opposite directions.
Oil prices tacked on $1.68 to $73.32 U.S. a barrel.
Gold prices recovered $15.30 to $1,784.30 U.S. an ounce.