MarketsWall Street leaps in broad rally – Financial Times

US stocks kicked off the week in rally mode as the S&P 500 looked to add a fifth day to its winning streak.

With less than an hour before the close of trading in New York, the S&P 500 jumped 1.8 per cent to 1,986.5, the Nasdaq Composite tacked on 1.5 per cent to 4,777.3 and the Dow rallied 292.3 points to 16,763.9.

The advance was quite broad:

• 95.2 per cent of volume on the NYSE Composite index was in shares that were advancing.

• There were roughly 14 rising shares for each declining share on the NYSE Composite.

• Every S&P 500 sector was in the green, led by industrial and energy stocks. Health-care shares posted the slimmest gains, thanks to a selloff in biotech.

Energy futures climbed across the board: US crude oil zipped higher by 81 cents, or 1.8 per cent, to $ 46.35 a barrel. Brent crude rose 2.6 per cent, while New York Harbor gasoline rallied 3.5 per cent.

Meanwhile, traders shed safe-haven assets. The yield on the benchmark US 10-year Treasury note rose 0.07 percentage point to 2.06 per cent. Bond yields move in the opposite direction of prices.

The CBOE’s VIX index, a measure of stock-market volatility, tumbled 7.8 per cent