Investing.com -- U.S. stocks surged more than 1% on Monday erasing some of their losses from last week's considerable sell-off, as energy stocks soared in the wake of Friday night's terrorist attacks in Paris.
In Monday's session, U.S. crude futures jumped as much as 3.25% above $42 a barrel, as investors reacted to reports of a series of French airstrikes against targets from the Islamic State in Syria over the weekend. At the same time, ISIS issued stark warnings against the U.S. and other countries that further attacks could be forthcoming against those taking part in strikes against Syria. A series of shootings and suicide bombings in Paris on Friday night claimed the lives of at least 132 people and wounded more than 350 others.
As geopolitical tensions intensify, oil prices generally spike amid stronger demand. Earlier this fall, the Islamic State occupied the Jazal oilfield northwest of the ancient Syrian city of Palmyra to seize control of all of the nation's state-owned fields. Shares in Exxon Mobil Corporation (N:XOM) and Chevron Corporation (N:CVX) both closed Monday's session up by approximately 3%.
The Dow Jones Industrial Average jumped 237.77 or 1.38% to 17,483.01, while the NASDAQ Composite index added 56.74 or 1.15% to close at 4,984.62. The S&P Composite index also rose 30.15 or 1.49% to 2,053.19, as all 10 sectors closed in the green. Stocks in the Energy, Telecommunications and Utilities sectors led, each gaining more than 1.5%.
Exxon finished as the top performer on the Dow on Monday after gaining 2.67 or 3.42% to close at 80.77. It finished just ahead of Chevron, which rose 2.60 or 2.93% to 91.28. Both major oil companies are still down by more than 14% over the last year. The worst performer was Pfizer Inc (N:PFE), which fell 0.18 or 0.54% to 33.09 amid reports of tax-inversion strategies by the prominent pharmaceutical company to shift U.S. profits overseas.
The biggest gainer on the NASDAQ was Jd.Com Inc Adr (O:JD), which soared 2.15 or 8.04% to 28.90 after China's second-largest e-commerce company posted a 52% gain in third quarter revenues in line with analyst's expectations. The worst performer was Biomarin Pharmaceutical Inc (O:BMRN), which lost 3.28 or 3.05% to 104.16, ahead of the FDA's review of Drisapersen, the company's muscular dystrophy drug next week.
The top performer on the S&P 500 was FLIR Systems Inc (O:FLIR), which added 2.73 or 10.49% to 28.76. The worst performer was Urban Outfitters Inc (O:URBN), which lost 1.79 or 7.29% to 22.71. Urban Outfitters finished just below Starwood Hotels & Resorts Worldwide (N:HOT), which fell 2.79 or 3.72% to 72.20. Earlier on Monday, Marriot International (O:MAR) announced that it has acquired Starwood Hotels in a $12.2 billion merger that will create the world's largest hotel chain.
On the New York Stock Exchange, advancing issues outnumbered declining ones by a 2,193-881 margin.