Dow industrials up 460 points and the Nasdaq 275 points at Monday’s opening bell


U.S. stocks opened sharply higher on Monday, with the Dow Jones Industrial Average advancing nearly 600 points, as stocks rebounded following Friday’s punishing selloff. The S&P 500 SPX, +2.65% climbed 80 points, or 2.3%, to 3,663. The Dow DJIA, +1.86% gained 568 points, or 1.9%, to 30,203. The Nasdaq Composite COMP, +3.43% advanced 276 points, or 2.7%, to 10,598. Analysts attributed the risk-friendly mood in U.S. markets to the latest news out of the U.K., where the newly installed Chancellor of the Exchequer Jeremy Hunt abandoned the majority of the £45 billion ($50.9 billion) in previously announced unfunded tax cuts, sparking a sharp rally in U.K. government bonds, known as gilts.

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