Wall Street gains on optimism over global economy

Wall Street gains on optimism over global economy

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 12, 2019. REUTERS/Eduardo Munoz

NEW YORK (Reuters) – U.S. stocks climbed on Monday as reports of stimulus efforts in China and Germany calmed fears of a severe downturn in the global economy that were stoked last week as bond yields fell.

The Dow Jones Industrial Average .DJI rose 249.58 points, or 0.96%, to 26,135.59, the S&P 500 .SPX gained 34.88 points, or 1.21%, to 2,923.56 and the Nasdaq Composite .IXIC added 106.82 points, or 1.35%, to 8,002.81.

Reporting by April Joyner; editing by Jonathan Oatis

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