Dow rises more than 400 points as stocks extend rally after best week since June

U.S. stocks advanced on Monday, adding to their gains after the best week for at least two of the three major indexes — the S&P 500 and the Dow — since June. The S&P 500
SPX,
+1.19%
finished 44.59 points, or 1.2%, higher at 3,797.34. The Dow Jones Industrial Average
DJIA,
+0.54%
rose 417.06 points, or 1.3%, to climb to 31,499.62. The Nasdaq Composite
COMP,
+0.86%
advanced 92.90 points, or 0.9%, to close at 10,952.61. The rally comes as investors cling to hopes that the Federal Reserve will slow the pace of its interest rate hikes after November, market strategists said.