Stocks rose on Monday as higher oil prices boosted energy shares, and signs of life in the global economy and overseas markets renewed investor optimism on the prospects of a recovery.
Oil futures jumped almost 3 percent after Nigerian militants said they attacked a Royal Dutch Shell
Energy shares gained, with Chevron Corp
Lifting optimism, the euro zone's economic sentiment index rose for the third month in a row, Chinese stocks reached a one-year closing high for the fourth straight session, and copper prices continued to edge higher.
There's still buying on dips, there's still buying of this commodity trade related to China and a weaker dollar, and I think that is continuing again this morning, said Peter Boockvar, equity strategist as Miller & Tabak in New York.
The Dow Jones industrial average <.DJI> gained 83.66 points, or 0.99 percent, to 8,522.05. The Standard & Poor's 500 Index <.SPX> added 7.14 points, or 0.78 percent, to 926.04. The Nasdaq Composite Index <.IXIC> rose 5.91 points, or 0.32 percent, to 1,844.13.
(Reporting by Edward Krudy; additional reporting by Rodrigo Campos; editing by Jeffrey Benkoe)