The Dow Jones industrial average closed up 213 points, or 1.9 percent, at 11,483. It has erased all its losses from last week, when it swung more than 400 points four straight days on worries about a weakening economy. Investors were also concerned about the country’s loss of its top credit rating and Europe’s debt problems. This is the Dow’s first three-day gain since July 1.READ MORE: 1 Dead, 2 Injured After Police Pursuit Ends In Crash In Holtsville
The S&P 500 is up 25, or 2.2 percent, at 1,204. The Nasdaq is up 47, or 1.9 percent, at 2,555.READ MORE: New York City Taxi Drivers Begin Hunger Strike, Say Mayor De Blasio's Debt Relief Bailout Is Not Enough
Google led Monday’s deals with its $12.5 billion purchases of Motorola Mobility Holdings. Time Warner Cable, Cargill and Transocean also announced purchases of more than $1 billion each.Union Leaders: NYC Likely To Face Dramatic Drop In Services If First Responders Forced To Comply With Vaccine Mandate
Analysts expect concerns about another U.S. recession to keep stocks volatile in upcoming weeks. Investors also worry that Europe’s debt problems are worsening.