US markets got a good bounce back on Monday with all major indices gaining more than 1%, it was one of the best session of the month. There was some M&A activity along with report that Chinese government plans to undertake measures to boost economy that helped market sentiment. Traders rejoiced the news that Eaton Corp agreed to buy Cooper Industries for $11.8 billion in cash and stock. Though, there was some weakness in the banking stocks as JPMorgan CEO Jamie Dimon said the bank has suspended its $15 billion share buyback program in the wake of its recently disclosed $2 billion trading loss.
The Dow Jones Industrial Average surged by 135.10 points or 1.09 percent, to close at 12,504.48. The S&P 500 added 20.77 points or 1.60 percent to close at 1315.99, while the Nasdaq rose by 68.42 points, or 2.46% to close at 2847.21.