RALLIES

Upbeat Outlook Buoys Stocks

A day of good news from Wall Street: Hopes of a housing-sector rebound soared Monday after home-improvement giant Lowe’s raised its earnings outlook. Also boosting spirits was a 9 percent surge for Bank of America—on news that Goldman added the company to its “conviction buy list”—and a 17 percent jump for India’s stock market. The Dow jumped 235.44 points to close at 8,504.08, while the S&P 500 closed at 909.71, a 3.04 percent uptick. The Nasdaq, meanwhile, also climbed more than 3 percent. “People are starting to get nervous; they don’t want to miss the next move upward…a couple of months ago, that wasn’t even a consideration,” a derivatives strategist tells The Wall Street Journal.