The market’s Monday rally picked up steam in late afternoon trading.
The Dow gained 500 points, or 1.2%, at around 2:30 p.m. ET. The S&P 500 was up 1%. Even the Nasdaq Composite, which was weighed down by struggles among Big Tech stocks, was up 0.8%.
Wall Street was in the mood for some dip buying in the afternoon: Only 31 S&P 500 stocks were falling, while only two Dow stocks were down. All 11 major S&P 500 sectors were rising, and most were up 0.9% or more.