Dow rallies more than 200, Nasdaq posts best day in a month

(CNBC) — U.S. stocks rose sharply on Monday as tech shares outperformed while investors monitored stimulus negotiations in Washington.

The Dow Jones Industrial Average rose 250.62 points, or 0.9%, to close at 28,837.52. The S&P 500 gained 1.6% to end the day at 3,534.22 and the Nasdaq Composite advanced 2.6% to 11,876.26. It was the Nasdaq’s best day since Sept. 9, when it rallied 2.7%.

Apple jumped 6.4% — the stock’s biggest one day gain since July 31 — as investors looked ahead to a key event for the company. On Tuesday, Apple is expected to unveil its first 5G iPhone. History shows Apple shares usually outperform the broader market after an iPhone launch.

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