Stocks extended gains on Monday, driving the benchmark S&P 500 <.SPX> back above the psychologically important 900 level for the first time since early January.

The index has now gained more than 33 percent since hitting a 12-year closing low on March 9.

The Dow Jones industrial average <.DJI> gained 195.29 points, or 2.38 percent, to 8,407.70. The Standard & Poor's 500 Index <.SPX> added 23.53 points, or 2.68 percent, to 901.05. The Nasdaq Composite Index <.IXIC> rose 33.31 points, or 1.94 percent, to 1,752.51.

(Reporting by Ellis Mnyandu; Editing by Jan Paschal)