U.S. stocks rose on Monday as the major indexes rebounded from their worst weekly performances in two years.
The Dow Jones industrial average closed 410.37 points higher at 24,601.27 and rose as much as 574.26. DowDuPont and Apple were the best-performing stocks in the Dow, advancing 3.4 percent and 4 percent, respectively.
Shares of Amazon, Bank of America and Apple — which fell sharply last week — all rose by at least 2.5 percent.
JJ Kinahan, chief market strategist at TD Ameritrade, said the market is trying to find its balance point after last week's wild swings. "There's more volatility ahead. These things take a few weeks to get worked out," he said.
The Dow and S&P 500 both pulled back 5.2 percent last week, notching their worst weekly declines since January 2016. The Nasdaq composite, meanwhile, dropped 5.1 percent, marking its biggest one-week pullback since February 2016. The indexes also dipped into correction territory.
The major indexes closed out last week on a high note, with the Dow rising 330 points on Friday while the S&P 500 and Nasdaq gained more than 1.4 percent.
The 30-stock Dow closed more than 1,000 points lower twice last week and rose more than 300 points in two other trading days. The S&P 500, meanwhile, posted moves greater than 1 percent in four-of-five trading days last week.
"This looks like a corrective phase rather than the start of a bear market," said Katie Stockton, founder of Fairlead Strategies. "The biggest risk to the marker prior to this sell-off was sentiment and we've seen that go from overly bullish to overly bearish."
Stockton noted, however, it could take a few more weeks until this correction is over.