US stocks post gains helped by oil, tech stocks

US stocks closed higher on Monday, recovering some of last week’s losses, underpinned by a surge in oil prices and a rally in tech stocks.

The Dow Jones Industrial Average gained 175.39 points, or 1.0%, to 17,710.71. The S&P 500 SPX, advances 20.04 points, or 0.98%, to 2,066.53. The Nasdaq Composite climbed 57.78 points, or 1.22%, to close at 4,775.46.

Strong rally in oil prices and tech stocks offset disappointing US data, with both the NY Empire State index and the NAHB index coming in below initial estimates.