U.S. stocks jumped higher Monday as investors looked for an easing in the bond market ahead of another busy week for earnings releases on Wall Street.
The Dow Jones Industrial Average gained 510 points, or 1.7%. The S&P 500 jumped 2.5%, and the tech heavy Nasdaq Composite surged 3.2%.
Bank of America on Monday reported better-than-expected results, sending the stock higher in the stock up nearly 5%.
Bank of New York Mellon posted results that beat analyst expectations sending its shares up more than 5%.
The New York Fed's Empire State manufacturing index fell for a third straight month, declining 8 points to negative-9.1, compared with expectations for a reading of negative-5.
The December crude oil contract was up 65 cents at US$85.30 per barrel.
The December gold contract was up US$19.20 at US$1,668.10 an ounce.
The yield on the 30-year fell 47 basis points, or 0.47 percentage points.