U.S. stocks rose, following the Standard & Poor’s 500 Index’s second-biggest weekly retreat this year, after a late rally in Chinese stock markets led global equities higher.
Apple Inc., Amazon.com Inc., Wells Fargo & Co. and General Motors Co. all posted gains of at least 2.1 percent amid a broad-based rally as investors returned from the Labor Day holiday. Teco Energy Inc. surged 24 percent to a 13-year high after agreeing Friday to a $6.5 billion buyout by Canada’s Emera Inc. Meredith Corp. added 10 percent after Media General Inc. agreed to buy the company in an acquisition valued at about $2.4 billion.
The S&P 500 jumped 1.8 percent to 1,955.83 at 12:26 p.m. in New York, after sliding 1.5 percent on Friday. The Dow Jones Industrial Average rallied 301.25 points, or 1.9 percent, to 16,403.63. The Nasdaq Composite Index advanced 2 percent.
Equities around the world climbed today, led by China. A rally in Shanghai in the final hour of trading followed a pattern that has recently suggested state intervention to prop up the nation’s equities. U.S. stocks have turned more volatile in recent weeks amid concerns that a Chinese economic slowdown will weigh on global growth, while investors bet the Federal Reserve is on course this year for its first interest-rate increase since 2006.