Stocks rose on Monday, extending gains following Wall Street's best week in 4 months, after CIT Group Inc clinched a deal that could help avoid bankruptcy, removing some uncertainty as the financial sector recovers from a deep crisis.

The Dow Jones industrial average <.DJI> was up 54.03 points, or 0.62 percent, at 8,797.97. The Standard & Poor's 500 Index <.SPX> rose 5.54 points, or 0.59 percent, at 945.92. The Nasdaq Composite Index <.IXIC> added 7.14 points, or 0.38 percent, at 1,893.75.

(Reporting by Edward Krudy; editing by Jeffrey Benkoe)