U.S. stocks climbed on Monday as the market recouped some of the steep losses caused by the Federal Reserve’s policy shift.
The Dow Jones Industrials sprang back to life Monday, jumping 586.89 points, or 1.8%, to finish at 33,876.97, rebounding from its worst week since October.
The S&P 500 recouped 58.34 points, or 1.4%, to 4,224.79,
The NASDAQ restocked 111.1 points to 14,141.48, as some key tech names including Amazon, Tesla Nvidia and Netflix registered losses.
Commodity stocks that were hit hard last week led the market comeback on Monday as the S&P 500 energy sector rallied 4.3%. Devon Energy and Occidental Petroleum jumped nearly 7% each.
Reopening plays including Norwegian Cruise Line and Boeing both climbing more than 3%. Banks including JPMorgan, Bank of America and Goldman Sachs also rebounded.
Prices for 10-Year Treasurys stumbled, raising yields to 1.49% from Friday’s 1.44%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.90 to $73.54 U.S. a barrel.
Gold prices soared $14.00 to $1,783.00 U.S. an ounce.