Stocks closed sharply higher on Wall Street, marking the latest about-face for a market that has been unsteadily lurching between gains and losses in recent weeks.
The S&P 500 jumped 2.6 percent Monday, more than recovering the ground it lost in a sell-off on Friday. The Dow added 1.9 percent and the Nasdaq climbed 3.4 percent.
Bank of America rallied after reporting earnings that beat forecasts. U.K. government bonds rallied following news that the country’s new Treasury chief was abandoning nearly all of a series of unfunded tax cuts that had upset markets.
On Monday: The S&P 500 rose 94.88 points, or 2.6 percent, to 3,677.95.
The Dow Jones Industrial Average rose 550.99 points, or 1.9 percent, to 30,185.82.
The Nasdaq rose 354.41 points, or 3.4 percent, to 10,675.80.
The Russell 2000 index of smaller companies rose 53.35 point, or 3.2 percent, to 1,735.75. For the year:…