US stocks recover on European hopes

© Scanpix/AP

US stocks rebounded on Monday experiencing the best trading in 4 weeks as European officials are expected to reach a consensus on its fiscal policy to solve sovereign debt crisis. Higher than expected Black Friday's retail sales also boosted the stock price. S&P 500 Index gained 2.9% or 33.88 points closing at 1,192.55, Dow Jones Industrial Average jumped 2.6% or 291.23 points ending trading at 11,523.01. Nasdaq Composite Index rallied 3.5% or 85.83 points reaching 2,527.34.