U.S. stocks rallied for a second day, rebounding from the biggest monthly drop in a year for the Standard & Poor™s 500 Index, as a surge in energy stocks spread to the broader market.
The S&P 500 added 1.4 percent to 2,049.98 at 4 p.m. in New York, climbing above its average level for the past 50 days. The Dow Jones Industrial Average rose 304.98 points, or 1.8 percent, to 17,666.02. The gauge is up 2.9 percent over two days, the most since Jan. 8.
The S&P 500 rebounded 1.3 percent Monday as a rally in crude sparked gains in energy shares. The index lost 3.1 percent in January, the worst performance in a year, after reaching an all-time high on Dec. 29. The two-day rally has trimmed the gauge™s decline for the year to 0.4 percent.
Source : Bloomberg