U.S. stocks rose sharply on Monday as a rebound in U.S. services industry activity in June and expectations of a revival in China’s economy boosted optimism, helping investors look past a surge in new coronavirus cases in the United States.

A non-manufacturing activity index jumped to a reading of 57.1 last month, the highest since February, from 45.4 in May, according to a report from the Institute for Supply Management (ISM).

Unofficially, the Dow Jones Industrial Average rose 459.47 points, or 1.78%, to 26,286.83, the S&P 500 gained 49.66 points, or 1.59%, to 3,179.67 and the Nasdaq Composite added 226.02 points, or 2.21%, to 10,433.65.

Source : Reuters