(By Salman - iStockAnalyst Writer)US stocks finished with solid gains on Monday as investors were cheered by reports that commercial lender CIT Group has secured $3 billion deal with key bondholders that will help it avoid bankruptcy.

The Dow Jones Industrial Average climbed 104.21 points or 1.19% to finish at 8,848.15. The S&P 500 advanced 10.75 points or 1.14% to end at 951.13. The Nasdaq Composite gained 22.68 points or 1.20% to 1,909.29.

Among the Dow components, Caterpillar Inc.(NYSE: ) soared $2.66 or 7.83% to $36.65.    

Shares of Alcoa (NYSE: ), the largest US aluminum maker jumped 38 cents or 3.72% to $10.60.

Walt Disney (NYSE: ), the larget US theme park operator, surged 86 cents or 3.51% to $25.37.

American Express Co. (NYSE: ) advanced 62 cents or 3.07% to end at $21.15.

Shares of Cisco Systems (NASDAQ: ) increased 63 cents or 3.07% to $21.15.

DuPont Co. (NYSE: ) gained 76 cents or 2.76% to close at $28.33.

On the downside, Bank of America (NYSE: ) lost 65 cents or 5.04% to end at $12.24.

Late on Sunday, commercial finance company CIT Group Inc.'s (NYSE: ) board approved a deal with major bondholders to avoid bankruptcy with a $3 billion emergency loan.