Technology leads stock surge; Dow Jones Industrials up 600
NEW YORK — Stocks are surging as the market recovers more of its huge losses from a week earlier.
Technology stocks and banks, which took some of the worst losses last week, powered higher Monday. Microsoft jumped 7 percent and Bank of America climbed 4.4 percent.
Investors were encouraged by signs that the U.S. and China are open to negotiating to avert a trade dispute.
Facebook fell another 2.2 percent after the Federal Trade Commission said it was investigating the company’s privacy practices.
The Dow Jones industrials jumped 618 points, or 2.7 percent, to 24,158. They lost more than 1,400 points last week.
The S&P 500 climbed 63 points, or 2.5 percent, to 2,651, on track for its biggest gain in two years. The Nasdaq climbed 195 points, or 2.8 percent, to 7,188.