BB:CC - Stocks Rally to Start Week Dow Climbs 500+

Stocks rallied on Monday, with the S&P 500 ending the day out of correction territory, as traders kicked off a big week filled with a Federal Reserve rate decision, jobs report and Apple's earnings.

The Dow Jones Industrials steamrolled 511.37 points, or 1.6%, to greet Monday's closing bell at 32,928.96. The 30-stock index was headed for its best day since June 2.

The S&P 500 index soared 49.45 points, or 1.2%, to 4,166.82, set for its best performance since late August.

The NASDAQ popped 146.47 points, or 1.2%, to 12,7589.48.

Mega-cap tech stock stocks Amazon advanced 3% and Meta Platforms jumped 2%.

Apple will report earnings Thursday after the bell. The S&P 500's largest member is in a correction itself, down 15% from its 52-week high.

Those moves come after the S&P 500 fell into correction territory last week. The broader index shed 2.5% for the week to put it down by more than 10% from its 2023 closing high. It's off 3.2% for October, on pace for its third-straight negative month which would be its first such streak since 2020 as the pandemic struck.

The Federal Reserve decision looms Wednesday, when the central bank is widely expected to hold its benchmark interest rate at the same level. With surging interest rates as the main culprit of this stock market correction, investors will be hoping the Fed signals it could be done raising rates. Traders expect the Fed to be done raising rates at least for 2023.

Prices for the 10-year Treasury faded, raising yields to 4.89% from Friday's 4.84%. Treasury prices and yields move in opposite directions.

Oil prices fell $2.95 to $82.59 U.S. a barrel.

Gold prices grabbed $7.20 to $2,005.70.