U.S. stocks rose sharply on Monday as a rebound in U.S. services industry activity in June and expectations of a revival in China’s economy boosted optimism, helping investors look past a surge in new coronavirus cases in the United States.
A non-manufacturing activity index jumped to a reading of 57.1 last month, the highest since February, from 45.4 in May, according to a report from the Institute for Supply Management (ISM).