(By Salman - iStockAnalyst Writer)US stocks finished with gains on Monday as Lowe's Co.'s better than expected quarterly results spurred economic optimism.
The Dow Jones Industrial Average rose 235.44 points or 2.85% to finish at 8,504.08. The S&P 500 added 26.83 points or 3.04% to end at 909.71. The Nasdaq Composite increased 52.22 points or 3.11% to 1,732.36.
Shares of financials rallied.
Bank of America (NYSE: BAC) jumped $1.06 or 9.93% to $11.73. Citigroup (NYSE:
C) surged 16 cents or 4.60% to $3.64. J.P Morgan (NYSE:
JPM) soared $2.35 or 6.73% to $37.26. American Express (NYSE:
AXP) leaped $1.90 or 7.84% to $26.13. Shares of Wells Fargo & Co.(NYSE:
WFC) advanced $2.06 or 8.28% to $26.93.In a regulatory filing on Friday, Berkshire Hathaway Inc. (NYSE: BRK-A) said that it has increased stake in such companies as Wells Fargo & Co. (NYSE: WFC) by more than 12 million shares.
Alcoa Inc. (NYSE:
AA) rallied 46 cents or 5.09% to $9.49.
Equipment maker Caterpillar Inc. (NYSE:
CAT) $2.04 or 5.71% to 37.78.
Shares of General Motors (NYSE:
GM) soared 9 cents or 8.26% to $1.18.
Among energy stocks, Exxon Mobil (NYSE:
XOM) climbed $1.39 or 2.01% to $70.50.Chevron Corp. (NYSE:
CVX) finished at $66.03, up 15 cents or 0.23%.
Early on Monday, Lowe's Cos.
