(By Salman - iStockAnalyst Writer)US stocks rallied on Monday as dollar declined, sending stocks and commodities higher.
The Dow Jones Industrial Average jumped 203.52 points or 2.03% to finish at 10,226.94. The S&P 500 surged 23.77 points or 2.22% to end at 1,093.07. The Nasdaq Composite surged 41.62 points or 1.97% to 2,154.06.
Stocks rallied worldwide on Monday as finance ministers of Group of 20 countries on Saturday pledged to "continue to provide support for the economy until the recovery is assured." Meanwhile, the greenback plunged to a 15-month low against a basket of major currencies Monday and the euro rose above $1.50 following news that the Group of 20 vowed to keep emergency stimulus spending in place until a global recovery is assured.
Shares of financials soared. American Express Co. (NYSE:
AXP) jumped $1.84 or 4.94% to $39.05.Bank of America Corp. (NYSE:
BAC) surged 72 cents or 4.78% to $15.77. JP Morgan & Chase & Co. (NYSE:
JPM) advanced 87 cent or 2% to $44.35. Wells Fargo (NYSE:
WFC) climbed $1.28 or 4.72% to $28.40.
Equipment maker Caterpillar Inc. (NYSE:
CAT) rallied $2.40 or 4.17% to $60.
Shares of Alcoa Inc. (NYSE:
AA), the largest US aluminum maker, gained 45 cents or 3.49% to $13.34.
Shares of diversified US firm General Electric Co. (NYSE:
GE) soared 52 cents or 3.39% to $15.85.
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Chemical maker DuPont Co. (NYSE:
DD) rose $1.23 or 3.68% to $34.61.
Late on Friday, Berkshire Hathaway (NYSE: BRK-A) reported that its third-quarter net income more than doubled to $3.24 billion, or $2,087 per Class A equivalent share, versus $1.06 billion, or $682 per Class A equivalent share, in the prior-year quarter. Shares of the company rose 0.2%.
Early on Monday, Rockwell Automation Inc.
