Better Economic News Sends Stocks Higher

A brighter outlook on the global economy helped send US stocks solidly higher on Wall Street, the AP reports. In another hopeful sign, long-term bond yields rose above their recent lows Monday, following a sharp drop last month that had spooked investors. Banks led the way higher. JPMorgan Chase and Bank of America each jumped 3.4%. Technology companies also rose. Intel climbed 1.5%. Lyft sank 12%, giving up the gains it posted on its first day of trading Friday. The S&P 500 index rose 32 points, or 1.2%, to 2,867. The Dow Jones Industrial Average rose 329 points, or 1.3%, to 26,258. The Nasdaq rose 99 points, or 1.3%, to 7,828. Bond prices fell. The yield on the benchmark 10-year Treasury note rose to 2.50%. (More stock market stories.)