An electronic screen shows the trading data at the New York Stock Exchange in New York, the United States, on Jan. 27, 2020. U.S. stocks ended significantly lower on Monday. The Dow fell 1.57 percent to 28,535.80, the S&P 500 decreased 1.57 percent to 3,243.63, and the Nasdaq dropped 1.89 percent to 9,139.31. (Xinhua/Wang Ying)
An electronic screen shows the trading data at the New York Stock Exchange in New York, the United States, on Jan. 27, 2020. U.S. stocks ended significantly lower on Monday. The Dow fell 1.57 percent to 28,535.80, the S&P 500 decreased 1.57 percent to 3,243.63, and the Nasdaq dropped 1.89 percent to 9,139.31. (Xinhua/Wang Ying)

U.S. equities rallied on Monday with the Dow jumping more than 700 points around midday as the market was trying to recover from the previous week’s massive losses.

At midday, the Dow Jones Industrial Average soared 745.90 points, or 2.94 percent, to 26,155.26. The S&P 500 was up 81.92 points, or 2.77 percent, to 3,036.14. The Nasdaq Composite Index increased 240.56 points, or 2.81 percent, to 8,807.92.

Apple shares jumped more than 7 percent around midday, leading the gainers in the Dow.

All of the 11 primary S&P 500 sectors climbed, with utilities up more than 4 percent, outpacing the rest.

On the data front, U.S. manufacturing activity edged up in February, according to the Institute for Supply Management (ISM) on Monday.

The ISM manufacturing index registered 50.1 percent in February, down 0.8 percentage point from the January reading of 50.9 percent. Any reading above 50 percent indicates expansion of the industry.

U.S. equities posted huge weekly losses for the week ended Feb. 28, as investors fled the stock market and flocked into safe-haven assets amid risk-averse sentiment.

For the week, the blue-chip Dow plunged nearly 3,600 points, or more than 12 percent. The broader S&P 500 and the Nasdaq both declined more than 10 percent. Enditem

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