The Dow Jones Industrial Average and the S&P 500 index rallied to trade at session highs late Monday afternoon, with the benchmarks on track to post their sharpest one-day climb since Aug. 26, 2015, according to FactSet data. The Dow was up as many as 586 points at its peak, and was most recently trading up about 580 points, or 2.5%, at 24,110. Meanwhile, the S&P 500 index was trading up 58 points, or 2.2%, at 2,646, also on track for the best daily rise since late August of 2015. A cooling of tensions around trade between the U.S. and China has given way to a powerful rally for U.S. stocks, which are coming off the worst weekly decline in more than two years. Meanwhile, the Nasdaq Composite Index surged 2.6% to 7,173, putting the technology-heavy index on pace for its best one-session gain in about 2 1/2 years.
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