U.S. stocks surged Monday, with the S&P 500 surpassing its Jan. 15 high on a rally led by cyclical names.
Among the winning sectors—health care, material, consumer discretionary and energy are all up better than 6.6 percent from their recent lows.
"The rally to new intraday highs still reflects, I think, an enormous faith in the Fed," Peter Boockvar, chief market analyst at The Lindsey Group, said in an email.
The S&P 500 rose to an new all-time high of 1,858.76, while the Nasdaq hit a 14-year high of 4,311.12. On Monday, the S&P also returned to a positive level for the year to date.
Stocks had swooned in January and February, with the closing at a more-than-three-month low of 1,741.89 on Feb. 3. Since then, the index is up 6 percent.
The current trend shows that a "buy the dip" mentality still prevails on Wall Street, and it has been apparent after every pullback in the past two years. None of those have been greater than single-digit percentage losses.
In fact, the market has avoided a full "correction," widely defined as a 10 percent drop, since October 2011, when the S&P 500 fell 17.6 percent from April to October 2011.
Below is a list of the best performing stocks this month.
—By CNBC's Giovanny Moreano. Follow him on Twitter: @giovannymoreano