S&P 500 rose 0.86%, or 23.05 points, as of market close. The index advanced about 7.9% for the month, hitting the best January since 1987, when the index posted a monthly advance of around 13%.
Ryan Detrick, senior market strategist for LPL Financial said, After the worst December for stocks in 87 years, “stocks have bounced back in a spectacular fashion”.
The S&P 500 gained 0.9 percent to close at 2,704.10 and the Nasdaq Composite outperformed, rising 1.37 percent to 7,281.74. The Dow Jones Industrial Average closed at 24,999.67.
The S&P 500 jumped 7.87 percent this month, its best January performance since 1987, and its biggest monthly gain since October 2015 and the Dow rose 7.17 percent in January, its largest one-month rise since 2015 and biggest January gain in 30 years.