Stocks get a boost from tech, banks

Stocks rose Monday after taking big losses last week. Major technology firms recovered some of their recent losses, and retailers and travel firms climbed on the first full trading day of the holiday shopping season.

Major indexes in the United States, Europe and Asia all climbed. London’s main stock index jumped after the British government and the European Union agreed to terms governing Britain’s departure from the EU in March. It’s not clear whether Britain’s Parliament will approve the deal.

U.S. banks rose Monday as interest rates turned higher after a two-week slide. The first full trading day of the holiday shopping period was a strong one for companies that sell goods and services to consumers. Amazon surged 5.3%, and Tiffany rose almost 4%.

On Friday the benchmark Standard & Poor’s 500 index closed 10.2% beneath the record high it had set in late September. That’s the second time this year the index has dropped 10% from a recent peak, a mark known on Wall Street as a correction. The tech-heavy Nasdaq composite and the smaller, more U.S.-focused Russell 2000 have suffered even bigger downturns since August.

Stocks have skidded recently as investors have grown doubtful that the United States and China will resolve their differences over tech policy and other issues. Their fears could soon be confirmed or upended, as President Trump and Chinese President Xi Jinping are scheduled to discuss their trade dispute at the Group of 20 summit meeting at the end of this week.

The S&P 500 climbed 40.89 points, or 1.6%, to 2,673.45. The Dow Jones industrial average rose 354.29 points, or 1.5%, to 24,640.24. The Nasdaq advanced 142.87 points, or 2.1%, to 7,081.85. The Russell 2000 rose 17.28 points, or 1.2%, to 1,505.96.

Among retailers, Amazon rallied 5.3% to $1,581.33 and Nike rose 1.7% to $72.71. Travel and leisure firms also surged. Booking Holdings, the parent of Priceline, rose 2.2% to $1,802.44. MGM Resorts climbed 5% to $27.11.

Tech firms have been hit hard during the market’s recent slide, and they made some of the largest gains Monday. Microsoft climbed 3.3% to $106.47. Cisco Systems rose 2.3% to $45.57.

Bond prices fell. The yield on the 10-year Treasury note rose to 3.06% from 3.05%. That sent interest rates higher. JPMorgan Chase shares rose 2.4% to $109.26, and Citigroup shares advanced 3.2% to $63.73.

Benchmark U.S. crude rose 2.4% to $51.63 a barrel. Brent crude climbed 2.9% to $60.48 a barrel. Crude prices have dropped by about onethird since early October. Representatives of major oil producers will meet in early December to discuss a possible cut in production.