Tesla Jumps 11.9% on a Winning Day for Wall St.

Stocks closed broadly higher on Monday as Wall Street navigates through the uncertainty of a trade war.

• The S&P 500 rose 100.01 points, or 1.8%, to 5,767.57.
• The Dow Jones Industrial Average rose 597.97 points, or 1.4%, to 42,583.32.
• The Nasdaq composite rose 404.54 points, or 2.3%, to 18,188.59.

The gains on Monday were broad, with more than 80% of stocks within the S&P 500 notching gains, the AP reports. Every sector within the index rose.

Technology stocks helped lead the way. The sector has been the driving force behind much of the broader market's movement, whether up or down. Nvidia rose 3.2% and Apple added 1.1%. Tesla climbed 11.9% for the biggest gain among S&P 500 stocks. The electric vehicle maker is still down more than 26% for the year. Genetics testing company 23andMe lost more than half its value after it announced over the weekend that it had initiated voluntary bankruptcy proceedings.

AZEK Co. jumped 17.3% after the building materials company announced it was being bought by Australia's James Hardie Industries in a cash-and-stock deal valued around $8.75 billion. It's the second large deal in the sector in less than a week, with QXO Inc. announcing on Thursday that it was buying Beacon Roofing Supply Inc. in a deal worth about $11 billion, including debt.

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Wall Street remains focused on how tariffs could eventually impact inflation, consumer spending and economic growth. Stocks have been riding waves of hope and worry as tariffs are announced, then either implemented or pulled. A new round of tariffs scheduled to be implemented on April 2 could also be softened or postponed rather than take effect. "The exact breadth and scale of the tariffs remain to be seen, and a cycle of tit-for-tat escalation is also possible in the weeks following the announcement, potentially triggering further bouts of market volatility," says Ulrike Hoffmann-Burchardi, chief investment officer of global equities at UBS Global Wealth Management.

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