U.S. stocks rise, led by gains in financial stocks
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-- Havens like gold, U.S. Treasurys retreat
-- Volatility index pulls back
The S&P 500 posted its biggest one-day gain since April, the latest sign of resilience in a stock market that has climbed to repeated highs this year.
A solid quarter of corporate earnings around the world, stronger-than-expected economic growth in Japan and lessened fears of conflict between North Korea and the U.S. helped stocks rise Monday, some traders and investors said.
The day's moves also reflected investors' tendency this year to buy stocks following pullbacks, some analysts said. That has helped limit both the scale and duration of selloffs in recent months, keeping major indexes near their all-time highs.
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Concerns over North Korea's nuclear program and a string of disappointing corporate reports last week sent the S&P 500 and Dow Jones Industrial Average to their steepest weekly declines since March.
"There's been a little bit of a sigh of relief that you haven't seen further escalation," said Supriya Menon, senior multiasset strategist at Pictet Asset Management.
The Dow Jones Industrial Average added 135.39 points, or 0.6%, to 21993.71 on Monday. The blue-chip index has gone 61 sessions without posting a move of 1% or more, its longest such streak since 1995.
The S&P 500 climbed 24.52 points, or 1%, to 2465.84, its biggest gain since April 24, and the Nasdaq Composite rose 83.68 points, or 1.3%, to 6340.23.
Stocks rallied broadly, with technology companies and banks posting some of the biggest gains.
Assets that investors consider to be safer stores of value, including U.S. government bonds and gold, pulled back.
Another sign of the relative calm in the markets: A measure of expected stock volatility that had spiked last week retreated Monday. The CBOE Volatility Index, which tracks investors' expectations of swings in the S&P 500 over the next 30 days, slumped 21%.
Earlier, data showed Japan's economy grew faster than analysts expected in the April-June period. The report was the latest to show economic growth around the world on solid footing, something that investors say has helped power the U.S. stock rally this year.
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(END) Dow Jones Newswires
August 14, 2017 16:51 ET (20:51 GMT)