Stocks closed broadly higher on Wall Street Monday, sending the S&P 500 and Nasdaq indexes to all-time highs.
Technology stocks accounted for much of the rally, which added to the market’s gains from last week. Retailers, restaurant chains and other companies that rely on consumer spending also notched solid gains.
Traders also shifted money into U.S. government bonds, sending yields lower, and they bid up the price of gold. Both can signal uneasiness in the market. Investors mostly shunned energy and materials stocks, which depend upon economic growth more than other sectors do.
The latest gyrations in the market come as investors weigh encouraging U.S. economic data and company earnings against lingering uncertainty about the potential global economic fallout from the virus outbreak in China.
The S&P 500 index gained 24.38 points, or 0.7 percent, to 3,352.09. The index’s set record highs twice last week. The Dow Jones Industrial Average rose 174.31 points, or 0.6 percent, to 29,276.82.
The Nasdaq climbed 107.88 points, or 1.1 percent, to 9,628.39. The Russell 2000 index of smaller company stocks picked up 10.89 points, or 0.7 percent, to 1,667.67.