Dow gains more than 350 points and stock market books best day in three weeks on Cyber Monday
U.S. stock benchmarks staged a powerful rebound to end Monday trade following the worst Thanksgiving week performance since 2011. The Dow Jones Industrial Average closed with a gain of about 354 points, or 1.5%, at 24,640, the S&P 500 index gained 1.6% at 2,673, powered by gains in the technology sector and consumer discretionary , which finished with gains of at least 2.3%. All three equity benchmarks booked their best daily climb since Nov. 7. The Nasdaq Composite Index finished up 2.1% at 7,081. Among the biggest movers on the day were shares of Amazon.com Inc. , which benefited from reports of strong sales on one of the best days for online retailers in the year. Amazon's shares closed 5.3% higher, marking their sharpest daily climb since a 6.9% gain on Nov. 7. Another support for the broader market was gains in crude-oil futures after a rout on Friday triggered fresh worries about global growth slowing. Separately, shares of General Motors were in focus after the automaker said it was slashing 15% of its North American workforce. GM's stock gained 4.8% on the day.