The broader US market closed higher on Monday after reassuring news about the Omicron COVID-19 variant and reopening of the economy led investors to buy stocks.

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The S&P 500 rose and made up nearly all the ground it lost last week. Technology companies and banks accounted for a big slice of the gains. The Dow Jones Industrial Average and the Nasdaq rose.

US stock markets on Monday:

The S&P 500 rose 53.24 points, or 1.2%, to 4,591.67.

The Dow Jones Industrial Average rose 646.95 points, or 1.9%, to 35,227.03.

The Nasdaq rose 139.68 points, or 0.9%, to 15,225.15.

The Russell 2000 index of smaller companies rose 44.17 points, or 2%, to 2,203.48.

For the year:

The S&P 500 is up 835.60 points, or 22.2%.

The Dow is up 4,620.55 points, or 15.1%.

The Nasdaq is up 2,336.87 points, or 18.1%.

The Russell 2000 is up 228.62 points, or 11.6%.

-With agency inputs