Stocks rallied on Monday, with the Dow industrials and S&P 500 indexes gaining 5 percent after the U.S. government released long-awaited details of a plan to clean out toxic assets from banks' balance sheets

Energy shares also boosted the indexes as the price of oil settled 3.3 percent higher.

The KBW banks index <.BKX> rose about 13 percent.

The Dow Jones industrial average <.DJI> spiked 364.94 points, or 5.01 percent, to 7,643.32. The Standard & Poor's 500 Index <.SPX> jumped 39.32 points, or 5.12 percent, to 807.86. The Nasdaq Composite Index <.IXIC> gained 67.30 points, or 4.62 percent, to 1,524.57.

(Reporting by Rodrigo Campos)