Stocks Rallied, Led by Banks, Tech

U.S. stocks bounced back on Monday, notching their largest gains since March 1, led by recently beaten-down bank and technology shares. At close, the Dow Jones Industrial Average rose 183.67 points, or 0.90%, to 20,636.92. The S&P 500 climbed 20.06 points, or 0.86%, to 2,349.01. The Nasdaq Composite gained 51.64 points, or 0.89%, to 5,856.79.

Oil prices fell Monday to mark their lowest finish in about a week, pressured by data showing gains in the number of active U.S. oil rigs over the past 13 weeks and expectations for a rise in monthly domestic shale production. May West Texas Intermediate crude fell 53 cents, or 1%, to settle at $52.65 a barrel. June Brent crude also fell 53 cents, or 1%, to $55.36 a barrel.

United Continental on Monday reported first-quarter earnings that topped forecasts. The company earned an adjusted $0.41 per share ($0.38 expected) on operating revenue of $8.42 billion ($8.38 billion forecast.)

Popular video streaming service Netflix Inc added fewer subscribers than analysts’ had estimated in the first quarter. The company said revenue rose 34.7 percent to $2.64 billion in the quarter. Net income rose to $178 million, or 40 cents per share, from $28 million, or 6 cents per share.