US stocks have recouped all of their losses for the year thanks to a rally spurred by central bank stimulus and optimism among investors that economic activity may be rebounding.
The S&P 500 advanced 1.2 per cent on Monday to close at 3,232.39, back above their level at the start of 2020, building on gains from Friday’s unexpected rise in US employment in May.
The blue-chip Dow Jones Industrial Average rose 1.7 per cent thanks largely to Boeing, on hopes of a rebound in air travel, while the tech heavy Nasdaq Composite added 1.1 per cent to set a new closing record of 9,924.75.
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