The Dow Jones Industrial Average rose 333.83 points, or 1.02 percent, to 33,160.83. The S&P 500 increased 21.31 points, or 0.56 percent, to 3,828.11. The Nasdaq Composite Index added 51.68 points, or 0.49 percent, to 10,616.20.
Ten of the 11 primary S&P 500 sectors ended in green, with materials and technology up 1.68 percent and 0.92 percent, respectively, outpacing the rest. Consumer discretionary slipped 0.3 percent, the lone declining group.
Investors awaited the results of the 2022 U.S. midterm elections with Election Day falling on Tuesday. The midterm elections will determine the next makeup of the U.S. Congress.
Wall Street is also keeping a close eye on the latest U.S. inflation readings as the consumer price index report for October is slated for release on Thursday.
Last week, the Federal Reserve raised benchmark interest rates by 75 basis points for the fourth consecutive meeting, and warned it still had "some ways to go" in its efforts to tame inflation.
Latest comments