Dow closes more than 400 higher to start week, led by banks and tech

(CNBC) — Stocks rose sharply on Monday as Wall Street built on strong gains from the previous session amid hope for a new deal on U.S. fiscal stimulus and several corporate deals being struck.

The Dow Jones Industrial Average closed 410.10 points higher, or 1.5%, at 27,584.06. The S&P 500 gained 1.6% to end the day at 3,351.60 and the Nasdaq Composite climbed 1.9% to 11,117.53. Both the Dow and S&P 500 had their best session since Sept. 9.

Sentiment on Wall Street got a boost after House Speaker Nancy Pelosi said Sunday a last-minute coronavirus aid deal remains on the table as House Democrats try to forge ahead on a smaller aid package costing about $2.4 trillion. Pelosi also said she and Treasury Secretary Steven Mnuchin are set to talk on Monday. Still, that price tag is well above what Republican leadership has indicated it will support for a new package.

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