The Dow Jones Industrial Average jumped 459.67 points, or 1.78 percent, to 26,287.03. The S&P 500 was up 49.71 points, or 1.59 percent, to 3,179.72. The Nasdaq Composite Index increased 226.02 points, or 2.21 percent, to 10,433.65.
Shares of major U.S. tech giants, the FAANG group of Facebook, Apple, Amazon, Netflix and Google-parent Alphabet, all closed higher.
Of the 11 primary S&P 500 sectors, technology and communication services were up 1.8 percent and 2.15 percent, respectively, among the best-performing groups.
Meanwhile, U.S.-listed Chinese companies traded mostly higher on Monday, with eight of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.
On the data front, economic activity in the U.S. non-manufacturing sector grew in June after two consecutive months of contraction, the Institute for Supply Management (ISM) reported on Monday.
The ISM non-manufacturing index registered 57.1 percent, 11.7 percentage points higher than the May reading of 45.4 percent, topping market consensus.
Wall Street's major averages advanced last week that saw the Dow rise 3.3 percent, the S&P 500 climb 4 percent, and the Nasdaq jump 4.6 percent.
The moves came despite the surging number of coronavirus infections in the country.
More than 2.9 million confirmed COVID-19 cases have been reported in the United States, with over 130,000 deaths, as of Monday afternoon, according to the Center for Systems Science and Engineering at Johns Hopkins University.
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