U.S. stocks bounced back on Monday, with the Dow clinching its best day since early June, following a turbulent week that saw both the S&P 500 and Nasdaq Composite slide into correction territory. Strong earnings from Dow component McDonald’s Corp. MCD along with a broad-based rally helped lift the blue-chip gauge by more than 500 points, causing it to snap a streak of 58 trading days without a gain of 1% or more, according to Dow Jones Market Data. The Dow Jones Industrial Average DJIA gained 511 points, or 1.6%, to finish at 32,928.83, according to preliminary closing data from FactSet. That marked the best daily points gain for the index since June 2, according to Dow Jones data. The S&P 500 SPX gained 49.44 points, or 1.2%, to 4,166.81. The Nasdaq Composite COMP gained 146.47 points, or 1.2%, to 12,789.48.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.