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Wall Street Rallies on Back of Big Tech, Banks

U.S. stocks ended higher on Monday following last week's horrific slide

U.S. stocks ended higher on Monday as gains from banks and a rebound in market-leading tech shares supported a broad-based rally following Wall Street's longest streak of weekly declines since the dotcom bust more than 20 years ago.

All three major U.S. stock indexes advanced between 1.6 percent and 2.0 percent, with the heftiest boost coming from rebounding megacap tech stocks Apple and Microsoft Corporation.

Interest rate-sensitive banks jumped 5.1 percent after the largest U.S. lender, JPMorgan Chase raised its current-year interest income outlook.

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